Pensions

Freedom SIPP has been wound up by the High Court, leaving its clients facing up to £66m in tax charges.

The UK pension system needs to undergo a series of drastic reforms to drive out consumer confusion and encourage savers, says Aviva.

There will be an ongoing process of automatic re-enrolment into personal accounts, pensions minister Angela Eagle says.

The Government is considering starting the Personal Accounts trustee corporation early in a bid to prepare for the 2012 reforms.

Dentons Pensions Management has launched two new pension products to widen the choice available to investors.

Annual SIPP fees are likely to rise over the next twelve months as providers struggle to deal with low interest rates.

Hornbuckle Mitchell has created a dedicated administration team to help IFAs efficiently place new business with the SIPP specialist.

Andy Zanelli, head of professional edge technical sales at AXA Winterthur Wealth Management, says the importance of regular client reviews, particularly in the current economic conditions, cannot be over-emphasised.

Question: A self-invested personal pension is invested in taxable property. What are the tax charges & subsequent rates & who is liable for each individual tax charge?

IFAs shunned commercial property facilities when choosing SIPPs during 2008 with their major priority being FSA approval for the products, according to figures from Defaqto.