A Sipp operator has been told to compensate an investor after the Financial Ombudsman Service ruled it had failed to ensure that an investment was suitable.

I don't know about you but I'm becoming rather disillusioned with the SIPP market and the bad news stories that seem to be more regular and more alarming.

Assets under management have shot through the £1bn barrier at Parmenion, with the company also announcing positive feedback on its new Sipp.

The total UK 'at retirement' market has been forecast to more than triple in size in the next 10 years, with annuity sales still high despite taking a hit in 2014.

The time has come for a 'pensions passport' to be made a reality, according to leading figures in the industry who have come out in favour of the idea.