The pensions industry in the UK is the second largest in the world after the US, with assets totalling over £260bn in personal pensions. Introduced in the early 1990’s the Self Invested Personal Pension (SIPP) market has grown year on year so that there are now over 500,000 plans in force. On going annual growth is predicted at a conservative rate of around 20%.
Posts Tagged ‘self invested personal pension’
Growth of the SIPP market
Wednesday, July 21st, 2010Protected rights funds and SIPP
Wednesday, January 2nd, 2008As we travel around the country talking to clients, the thorny issue of protected rights frequently comes up in conversation. A glimmer of hope for government u-turn which is possitive – the government has gone out to consultation on draft regulations which will allow self invested personal pension schemes to hold protected rights.Existing restrictions prevent protected rights – funds accrued from contracting out of the state second pension – from being held in self invested personal pensions and instead have to be held in insured funds, bank deposits or mutual funds such as OEICs.
The press to be regulated by the FSA – MUPET
Thursday, August 23rd, 2007Press reports have a bigger impact on people’s decision to take out a Self Invested Personal Pension than financial adviser recommendations, according to a survey by CoreData Research UK. The survey interviewed more than 1,000 consumers with above average wealth.
Of these 47 percent said that reading about SIPPS in the press was most likely to influence their decision on taking out a SIPP, 39 percent would find out about SIPPS online and 36 percent would be most influenced by financial adviser recommendations.
Well I guess this means that the press should now seek regulation through the FSA. I am tickled by the idea of the press taking on a principles based approach to the regulation. Murdochian pension-fund erosion techniques – or MUPET for short should sharpen the attention of the press.
