Editor's View: Another BSPS-related business goes into administration

The editor's Friday Night Takeaway from 31 May

Hope Coumbe
clock • 1 min read

In yet another instalment of the British Steel Pension Scheme saga, it was announced this week that self-invested personal pension provider Intelligent Money has entered administration.

The watchdog confirmed the SIPP has since sold its pension business on and affected former clients can now lodge claims with the Financial Services Compensation Scheme. Intelligent Money formerly carried out defined benefit transfers and was one of the key providers to accept business from Active Wealth UK – the firm at the centre of saga. I'm not sure when we'll see the back of BSPS-related news, but the regulator's diligence (finally…) in following up the loose ends will surely stand as a warning for bad apples. Elsewhere, Tenet Group has sold off its appointed representative business ...

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