STANDARD LIFE has wasted up to £3.5m gearing up for aspects of new pensions legislation scrapped just four months before they were set to come into force, according to the Scotsman .
The life and pensions giant has forked it out in an attempt to capitalise on the much-heralded ability to put residential property and alternative assets into pensions come 6 April. The Edinburgh-based group spent the funds on overhauling its systems, developing its self-invested personal pension (Sipp) offering, producing marketing literature and drafting in legal teams to ensure it was well-placed to attract the lion's share of a huge anticipated influx of new pension business. An estimated £11bn had been stockpiled across the UK, ready to invest in the buy-to-let property market afte...
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