AWD Chase de Vere warns on protected rights in SIPPs

Walker pointed to the gap in the financial services compensation regulations. He explained that insured SIPPs - generally those offered by life companies - are covered by the Financial Services Compensation Scheme, which protects 90pc of the assets with no upper limit. However, trustee SIPPs - which include many of the more flexible self-select products - while also being covered by the scheme, have compensation capped at 48,000. He said: "Until Lehman Brothers and HBOS went down, most people didn't really give much thought to financial services compensation, but now the world has changed...