Getting SIPP or SSAS compensation payments back to where they belong, inside a pension, is harder than you might imagine. Lisa Webster explains...
As a provider of self-invested personal pensions (SIPP) and small self-administered schemes (SSAS), we are increasingly receiving queries regarding compensation payments relating to a client's pension fund. These could be payments relating to poor advice (usually associated with a previous adviser), poor investment performance or mismanaged funds, and include payments from the Financial Services Compensation Scheme, Financial Ombudsman Service, investment providers and advisers. On the surface of things, if the pension fund has lost out, it would appear logical that the pension fund s...
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