Permitted pension investment list 'only way to stop future scandals'

Jenna Towler
clock

HM Revenue & Customs (HMRC) should reinstate the use of a permitted investment list across the pensions industry to protect the end consumer from further scandals, according to London & Colonial (L&C).

It said the list should cover self-invested personal pensions (SIPPs), small self-administered schemes (SSAS) and qualifying recognised overseas pension schemes (QROPS). L&C itself is operating under its own permitted investment list and admitted it had already turned away business because of it. Head of business and product development Adam Wrench said it would be necessary for the Financial Conduct Authority, The Pensions Regulator and HMRC to work together to implement such a list. He said: "We have a moral duty to protect investors' money so that it is ultimately used to provid...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

InvestAcc Group takes over £3.2bn book of business

Jenna Brown
clock 27 March 2025 • 1 min read
Spring Statement 25: 'As you were' following pensions exclusion

Spring Statement 25: 'As you were' following pensions exclusion

Pensions were notably lacking from today's Spring Statement

Holly Roach
clock 26 March 2025 • 4 min read
Majority of pension savers would use digital advice from providers

Majority of pension savers would use digital advice from providers

Some 73% of workplace pension savers want advice from providers

Jenna Brown
clock 24 March 2025 • 2 min read