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A Sipp and SSAS firm has warned businesses of "disastrous consequences" if they fail to get their auto-enrolment schemes in place after its research found fears about the costs involved.

Two new senior managers are set to take up roles at a Sipp and SSAS company.

Curtis Banks has predicted the Budget pension reforms will have a beneficial knock on effect on the Sipps sector as it announced today that its profits have more than quadrupled to £3.4 million.

Another major pensions company has predicted its annuity sales will plummet following the Budget.

The Budget pension reforms led to about £15m of annuity sales at Legal and General being cancelled, the company reported today.

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