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Targeting protection disruption
Guardian SIPP is in talks to allow investors trapped in troubled investments to buy their way out of paying mounting administration fees, and to have direct access to any money clawed back from the firms deemed liable for their losses.
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Guardian SIPP is suing investors with pension money tied up in troubled property investment Harlequin for non-payment of the fees related to their self-invested personal pension (SIPP).
Self-invested personal pension (SIPP) providers holding Harlequin investments are set to earn £17m from investors in fees over the next ten years, according to a law firm, while the underlying investment could be virtually worthless.