Skandia: SIPPs in danger of being used unnecessarily

clock

SIPP investors who have the vast majority of their assets held in Unit Trusts or OEICs may be better off using a platform pension due to cost, says Skandia.

According to the group's recent Adviser Barometer, one in four people who invest in a SIPP have 90% or more of their assets held in either a Unit Trust or OEIC. With the charging structure of a SIPP generally more expensive than a platform pension, Skandia questions whether SIPP is suitable for investors who do not engage with a wide range of investments. Nick Dixon, marketing director at Skandia said: "There is a danger that many SIPP customers are in the wrong product." In addition, half (46%) of advisers believe that just one in ten or less of their customers would be better off wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Targeted support: FCA rules out specific annuity suggestions

Targeted support: FCA rules out specific annuity suggestions

Firms must signpost consumers to MoneyHelper’s annuities comparison tool

Jenna Brown
clock 30 June 2025 • 3 min read
How annuity underwriting needs to change to meet Consumer Duty

How annuity underwriting needs to change to meet Consumer Duty

'This is an industry systematically delivering poor outcomes'

Andrew Gething
clock 24 June 2025 • 4 min read
Annuities in a post-freedoms world: The need for rebranding and repositioning

Annuities in a post-freedoms world: The need for rebranding and repositioning

‘The challenges facing today’s retirees are intensifying’

Steve Butler
clock 22 May 2025 • 4 min read