Sipp administrators and actuarial consultants will be able to offer pension schemes under forthcoming Treasury proposals. The Government consultation paper will cover widening the institutions allowed to establish pension schemes. The move will potentially increase competition in the pensions market.
As part of this, the Treasury said one of the options is to introduce an FSA-regulated activity of establishing and operating a pension scheme, which would bring Sipps under the regulator. The proposals are expected to cover Sipp wrappers rather than the assets held within them.
Concerns have grown around Sipps in recent months in light of the impending relaxation of investment rules post-A-Day, with most of the attention on the capacity to hold residential property within the wrapper.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till