Colin Maloney, head of pensions at Jupiter, is wary of the excitement surrounding A-Day. Although it will present many opportunities to the industry, investors should be cautious of investing any old assets into their Sipp as it needs to have appropriate holdings to fund retirement
A-Day has dominated many news pages over recent weeks but much of the coverage has centred on rather dramatic issues such as the new freedom of investment rules. Usually, the broadening of investment options is cause for celebration but, in this particular instance, I believe it may be a case of the emperor's new clothes. Under the current rules, personal pension investors can only put into their pension what a life company (or other provider) has on offer, which usually amounts to an in-house managed fund or a limited number of external funds. Not often an inspiring choice. Alternatively,...
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