PII woes force SIPP provider Forthplus Pensions into administration

Cap ad and pending FOS case

Jenna Brown
clock • 1 min read

Self-invested personal pension (SIPP) provider ForthPlus Pensions has entered administration after failing to secure continued professional indemnity insurance (PII).

The SIPP operator had about 2,500 customers, the majority of which were UK expatriates. The business, which had assets under management of around £500m, went bust on 19 October. Insolvency practitioners Leonard Curtis Business Solutions Group is overseeing the administration. The administrators said: "The demise of the company follows a range of factors, most notably the impact of the inability to renew or extend PII." On 1 September, Leonard Curtis said, the SIPP firm announced it would put a hold on accepting new applications while it made arrangements regarding PII. However, aft...

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 Pensions

We need to work together to tackle pension overconfidence

We need to work together to tackle pension overconfidence

'Clients may assume they're on the right track simply because they're paying into a pension'

Ahmed Bawa
clock 13 June 2025 • 4 min read
Pension freedoms have delivered flexibility in the last decade 'at a cost'

Pension freedoms have delivered flexibility in the last decade 'at a cost'

Consumers value choice but are aware of risk of running out of funds

Jasmine Urquhart
clock 12 June 2025 • 2 min read
Alex Cowan-Sanluis: 'Pension transfer sludge is real – I've seen it'

Alex Cowan-Sanluis: 'Pension transfer sludge is real – I've seen it'

'It became so frustrating that we spoke to the FCA'

Alex Cowan-Sanluis
clock 09 June 2025 • 4 min read