Understanding illustrations

Illustrations and related matters have been much consulted on. If advisers haven’t read all the relevant FSA papers, the changes can be simply summarised: all SIPP operators will have to provide illustrations in all circumstances, assuming lower rates of growth and providing a greater level of disclosure within the documents. The changes take effect from 6 April 2013. At a headline level, it’s hard to find much cause for concern.  As ever though, the devil is in the detail. We need to look at some of those details but the biggest concern is not being able to see the wood for the trees. ...