Pensions administrator Montpelier has suspended the processing of new pensions business as part of a review into company strategy.
A statement on the Leicester-based firm’s website from managing director Kevin Wells says the move won’t affect clients’ Sipp and SSAS assets.
Wells says: “We appreciate the timing is not ideal given the proximity to the fiscal year end but hope you will bear with us in the short-term until a more formal announcement can be made. We will keep you fully abreast of developments as and when they occur.
“Obviously this decision does not affect client’s Sipp and SSAS assets detrimentally in any way. We will continue to provide full administration services relating to scheme assets and we will continue to accept contracted regular contributions.”