Sipp providers to be allowed wider scope

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 hav...