Surge in SIPP interest predicted under Consumer Duty

SIPPs could be ‘major beneficiaries’ of the new regulation

Sahar Nazir
clock • 1 min read

Nearly half (45%) of financial advisers believe interest in self-invested personal pensions (SIPPs) will increase under Consumer Duty, according to a recent study by iPensions Group.

Advisers said they expect an increase in the number of consumers opting for SIPPs as a result of the regulation, which is set to be implemented on 31 July. The study also found that advisers expect the new Consumer Duty rules to deliver on their key aim of "boosting consumer retail investment". Managing director Craig Cheyne said: "Pensions in general and SIPPs in particular look likely to be major beneficiaries of the new rules and advisers are also reviewing the products they will offer to customers."Around two out of five (39%) believe the numbers of customers taking out retail inv...

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