Cutting through the pensions red tape

PENSIONS

Robert Graves, committee member of the Association of Member-Directed Pension Schemes (AMPS), outlines the raft of changes in the pensions market.

To say that the pensions sector is evolving is a bit of an understatement. Just looking at the Self Invested Personal Pension (SIPP) and Small Self Administered Scheme (SSAS) sector, so far this year there has been changes from HMRC and FSA all of which need to be reviewed and implemented. The FSCS Levy, where earlier this year SIPP providers were required to pay an additional levy due to the large compensation claims following the collapse of the Keydata investment among others, was a major event which, if not a change in itself, has certainly prompted calls for change. The size of t...