The rush to put residential property into self-invested personal pensions following A-Day, as anticipated by the industry, is only likely to attract a specific niche of individuals, new research indicates.
A survey conducted by life company Skandia, questioning 200 financial advisers, finds seven in ten respondents will only consider residential property as a suitable asset class within Sipps for a select group of clients, while only 7% believe it would be suitable for the ‘vast majority’ of clients, with 13% believing it will suit ‘many clients’. Skandia finds further A-Day changes are likely to increase the popularity of Sipps, with almost all (94%) of respondents believing ‘flexible retirement’ options including those under unsecured pension and alternatively secured pension arrangement...
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