Three SIPP operators have been declared in default by the FSCS after 150 claims were received, the body announced today.
SIPP provider Curtis Banks's annual trading update for the year ending December showed with an increase in total SIPP numbers of 8,798 to 76,474.
Pension transfers into SIPPs dominated the pension transfer market in 2017, latest industry figures show.
Pension investments rose by 66.3% year on year in the third quarter to hit £13.4bn fuelled by transfer business, particularly transfers to SIPPs, according to analysis from intermediary database provider Equifax Touchstone.
SIPP and platform provider James Hay has seen revenues drop by £1.4m, in disappointing results for the first half of the year.