Regular readers may recall the first Blog that I wrote for Sipps Professional in December last year, entitled “The Law is a Drag”.
The much-anticipated capital adequacy regime for SIPPs is finally upon us, and providers now have to get out their abacuses, and remove their shoes and socks, in order to undertake the calculations that will determine the requisite size of their capital reserves, underpinning the membership of their SIPP book of business and portfolio of assets.
Who could have predicted the political machinations that have unfolded since the UK narrowly voted ‘Leave’ on June 23rd, with more sackings and resignations in the last three weeks, than during a normal week at Leeds United.
Auto-enrolment is now entering a critical phase, with approximately 1.8 million small and micro-employers attaining their ‘Staging Date’ during this year and next.
One of the Chancellor’s ‘rabbits from his hat’ in this year’s Budget was the Lifetime ISA.
Like many, I was expecting a short announcement during the Autumn Statement followed thereafter by the publication of pages of detail explaining the new pension death tax rules. I certainly wasn't expecting to read about it on my BBC News app on the Sunday night before the Conservative Party conference.
A Sipp provider has echoed concerns about how the new free and impartial pension advice announced in the Budget will work.
Hargreaves Lansdown, the Sipp, investment and advice provider, has urged Chancellor George to use his autumn statement on Thursday to tackle systemic failures in converting pension pots into retirement income.
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