Question: Does the increasing scrutiny by our regulator around the transparency theme give real concern to SIPP providers in today's world? Can they afford to gear themselves up for real change?
Andy Leggett, Suffolk Life: "There's a certain irony about transparency questions. It was the A-Day changes that brought in a lot of new pension terminology - terminology embedded in the legislation that determines how pension schemes are run. SIPP providers have since received a ticking-off for using this terminology as it is confusing to customers! "The flexibility of SIPPs means that there are a great many options. If a provider charged a single, all-encompassing fee (or percentage) many would say that was not fair - there would, after all, be a cross subsidy between plan holders. A m...
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