Providing choice

In April 2006 the rules governing pension schemes were radically altered under 'Pensions Simplification' and, as a result, instead of having a list of permitted investments for SIPPs, the choice was opened up to include, among other things, the potential to invest in unquoted shares. The last minute reversal by the Government on residential property in late 2005 did have an indirect impact on pension schemes investing in unquoted shares, in that the complex legislation brought in to implement this u-turn went far wider than initially thought. The Finance Act 2006 brought in rules which im...