Suggestions that a tightening of the borrowing rules governing SIPPs
could hurt the investment market are dismissed by chartered surveyors who, in a recent RICS poll, said that the changes would not affect the market place or appetite for commercial property in pension plans.
Standard said they had a market-leading position in SIPPs
with half-year sales of pounds 60million, a four-fold increase.
Mr Millen predicts Sipps
will be the biggest UK investment product in the next 20 years.
The acquisition will bolster its position in the market for flexible, tax-efficient SIPPs
by combining Suffolk's expertise and wealthy customer base with its own wider distribution network.
Legal and General, whose offer has been recommended by Suffolk's board, estimates that the deal will give it around 10% of the SIPPs
market in the UK.
They are joined by Goodmans Solicitors to provide specialist property conveyancing services and the facility to organise SIPP
Syndicates, whereby groups of SIPPS
join together to buy bigger properties and even developments.
One of the major advantages of Sipps
is that they enable much greater flexibility, control over investments and a clear and transparent charging structure.
The initial aim of allowing individuals to manage their own investments remains the same, however, and SIPPs
are now seen by many as a flexible, 'DIY' option for pension saving.
If you want to consider a truly long-term investment for a child, then what about a pension for the kids with a Junior SIPP
As a result, more than 39m was paid into SIPPs
, over 10m into COPS and more than 8m to HRBS.
Miss Pearson, who heads the country's all female team of claim specialistsPension Claim Consulting Ltd, told Mirror Online: "Thousands upon thousands of people are unaware they've been mis-sold SIPPS
"Anecdotally, many purchasers are utilising the tax benefits of SIPPs
(Self-Invested Personal Pensions) and SSASs (Small Self-Administered Schemes) and are keen to deploy capital given uncertainty in the equity markets."