The Financial Conduct Authority (FCA) has revealed it is concerned about non-standard investments in self-invested personal pensions (SIPP) but has no plans to ban them.
In a letter to Work and Pensions Committee chair Frank Field, FCA executive director of supervision Megan Butler (pictured) said while the FCA is worried self-invested pension savers are a potential target for scams, it has no plans to bar unregulated or non-standard investments from inclusion in SIPPs. Butler said there are about £5.97bn of non-standard assets in SIPPs as of September 2017. She said this made up approximately 2% of the total £300.21bn of assets under management within the largest contract-based SIPP operators. Butler said: "We are not currently considering barring...
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