James Hay questions Sipp sales figures

James Hay has accused several of its competitors of using deferred Sipp business to bolster their sa...

James Hay has accused several of its competitors of using deferred Sipp business to bolster their sales figures. Deferred Sipps are personal pensions that offer the option to become a Sipp at a future date. Chris Smeaton, propositions and e-commerce manager at James Hay, said: “The issue of deferred Sipps is distorting the perception of the market. Exaggerating the size of the Sipp market has implications for advisers and for the regulation and management of the market.”