The Association of Pensioner Trustees (APT) and the Sipp Provider Group (SPG) are to merge into a joint trade body known as the Association of Member Directed Pensions Schemes (AMPS)
The purpose of the merger is to ensure that member-directed pension schemes in the form of Sipp, Ssas and other similar pension arrangements are properly represented both in the market place and within government following A-day on the 6th of April 2006.
Barry Bolland, former chairman of the SPG says: “As many members of the SPG were also members of the APT and from A-day the differences between Sipp and Ssas will largely disappear, it makes sense for them both to be represented by one body and this was clearly endorsed by the membership.”
John Bradley, chairman of AMPS, adds: “It is important for this fast growing sector of the market to be strongly and robustly represented in its dealings with both government and other sectors of the industry. The merger of the two existing representative bodies will enable the member-directed pensions sector to be more effectively represented on a wide range of subjects. I believe the future of this sector is rosy with the expectation of substantial growth for both Sipp and Ssas post A-day.”
All firms who were members of the APT or SPG automatically become members of AMPS, which now represents over 150 firms operating in the market of member-directed pension schemes.
The officers of the new committee are:
All of the members of the committee will continue to look after the portfolios they had prior to the merger, including Barry Bolland (EBS Management/Charles Stanley) who will lead the association on simplification issues and Francis Moore (European Pensions Management Limited) who will lead on SIPP issues with the Financial Services Authority (proposed regulation of SIPPs) and the Department for Work and Pensions (Protected Rights).IFAonline
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