The Financial Services Compensation Scheme (FSCS) has repaid more than £105m in self-invested personal pension (SIPP) claims in 2016/17 - a 35% increase on the previous year.
The lifeboat fund said the increase was due to failed advice firms that transferred savers out of occupational schemes into risky SIPP investments. It paid out £105m to compensate for these losses in 2016-17,...
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019