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.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October