Must try harder...

clock

Recently there have been press releases all over the place giving details of a long awaited joint ABI/AMPS statement designed to ensure that charging structures on SIPPS are communicated clearly and accurately to the consumer.

This is obviously a step in the right direction and welcome - the more clarity clients, and their advisers, receive in their SIPP dealings the better placed they are to make informed decisions. To my mind though the guidance doesn't go far enough. Nowhere in the example scenarios do the dealing charges really get exposed. There is an example that shows dealing charges as zero - but not one that shows that regular switching of assets (after all a SIPP is designed to be flexible) could seriously inflate the ongoing charges payable. In fact the whole area of investment fees is pretty much d...

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

Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read
Average pension transfer times fall

Average pension transfer times fall

Origo data suggests simpler pension transfers average 10.8 days

Martin Richmond
clock 11 August 2025 • 2 min read
Why commercial property is much more than a self-invested pension asset

Why commercial property is much more than a self-invested pension asset

'It's perfectly understandable that clients can become emotionally invested in a commercial property'

Caitlin Southall
clock 08 August 2025 • 4 min read