Providers accused of manipulating SIPP data

Deferred SIPPs are personal pensions which offer the option to become a SIPP at a future date. However, many pension providers list deferred SIPPs in their SIPP sales figures, creating an inaccurate picture of their SIPP operations, James Hay says. As a result, it warns advisers may overestimate the resource and expertise offered by the SIPP provider. Chris Smeaton, propositions and e-commerce manager at James Hay, says: “There are probably half a dozen providers doing this. If you look at some of the biggest providers out there it is obvious who we are talking about. “What we’re re...