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‘Scheme pensions and Sipps don’t mix’

Individual scheme pensions are not viable long-term products and they do not integrate well with Sipps, according to AJ Bell chief executive Andy Bell.

He argues that there is no longevity in the products because the rules surrounding alternatively secured pensions are likely to be reversed, making scheme pensions redundant.

He says: “Scheme pension and Sipps do not really sit comfortably with each other. We would rather try and persuade the Government to change the ASP rules than start trying to put a square peg in a round hole which is a scheme pension on top of a Sipp.”

Hornbuckle Mitchell was the first to launch an individual scheme pension option in its Sipp last year and Rowanmoor Pensions and Axa have recently followed it into this market.

Rowanmoor Pensions marketing manager Anna Hopkinson says: “Scheme pension is just one option. For certain clients, particularly those who have reached age 75, scheme pensions offer the chance to have income payments based on their circumstances rather than the one-size-fits-all assumption set by the Government Actuary’s Department for USP and ASP.”


Quantitative Surveyor

Economic historians conversant with currency vicissitudes over the past couple of hundred years will doubtless be able to seamlessly link Assignats – the paper money issued by the National Constituent Assembly in France during the French Revolution – Confederate dollars in the American Civil War, German Reichsmarks in the immediate aftermath of World War I and Russian roubles following the collapse of communism in the late 1990s. Not to mention the recent hyper-inflation in Zimbabwe.

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]


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