Vince Smith-Hughes looks at how recent reform will affect the SIPP market.
How have recent regulatory changes affected the SIPP market? For instance what impact will the relaxation of the age 75 rule have? The relaxation of the age 75 rule will ensure SIPP holders in drawdown will have no pre-defined age limit when the rules suddenly become more unattractive, as exists at present with the ASP regime. Drawdown investors may well still seek to purchase an annuity at some stage past 75, but will not be forced to do so. This represents an excellent opportunity for advisers and their clients as the ‘phasing in’ to drawdown as well as the ‘phasing out’ to an annu...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
