Residential property-based pensions "madness", says AJ Bell

SIPPs and SSASs administrator AJ Bell says proposals allowing individuals to set up pension schemes buying residential property from themselves are "madness", and that it is a mystery why the Inland Revenue would suggest such a thing given the difficulties providers would have administering such schemes. Clients would probably have no qualms about dropping a second home into their pension scheme, says AJ Bell managing director Andy Bell. However, most providers would struggle administering the theoretical maximum number of individual schemes set up for "mum, dad and two kids", which the...