Advisers back re-introduction of Sipp permitted investment list

Nearly 94% of advisers support calls to re-introduce a Sipp permitted investment list, a survey has suggested. AJ Bell asked 200 advisers for their views on seven of its proposals to Government for change to the current pension regime and found strong backing.The ideas put forward by the investment platform's chief executive Andy Bell included re-the re-introduction of a Sipp permitted investment list, which was backed by 93.6%.Other headline figures from the survey were:• Extend rules on serious ill health lump sums - 96.4% agreed• Simplify the current capped drawdown pension rules - 96% agreed• Scrap the lifetime allowance - 94.4 % of advisers agreed• Revisit flexible drawdown - 77.6% agreed• 35% tax on all lump sums on death - 65.6% agreed• Allow early access to pension commencement lump sums - 65.6% agreedAJ Bell's chief executive Andy Bell said: "It is clear that financial advisers are in agreement with our proposals for reform and they feel that our suggested changes can only help as they encourage clients to think about saving and their plans for retirement."Our proposals are intended as a series of measures that could be implemented quickly and without too much cost to the industry or indeed lost revenue to the Exchequer."Mr Bell wrote an open letter to the Treasury in January outlining his proposals.He said: "The current UK pension system is viewed by many as inflexible, overly complex and in need of an overhaul to make it more attractive. If we are to re-engage the saver then these changes would take away some of the complexity faced by both savers and the industry as a whole."

Advisers back re-introduction of Sipp permitted investment list

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