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Pensions compensation rises closer to £375k says FSCS

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The Financial Services Compensation Scheme (FSCS) has said the limit people can claim for the loss of their pension should rise closer to £375,000. Currently, clients of collapsed pension firms can only claim up to £85,000 from the lifeboat...

Charter Institute Of Tax dinner

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It was good to attend the annual Chartered Institute Of Tax dinner at the Crowne Plaza in Liverpool last night and catch up with many fellow professionals we haven’t managed to see for many years. We were particularly honoured to be joined by Brian...

Update on Heritage Pensions Ltd Liquidation

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On 17 th March 2022, Heritage pensions Ltd was placed into liquidation. Directors of Heritage appointed Paul David Williams and Edward Robert Bines of Koll Advisory as joint Liquidators. The FSCS is investigating the SIPP administrator to see if there are...

Updated information regarding section 27 claims against Sipp operators

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On 19 th April 2022, in the case of Adams v Options, the Supreme Court refused the SIPP operators application for permission to appeal and as such there will be no further consideration of this case by the Courts. With the uncertainty that followed the...

5 advisers are now banned by the FCA over Sipp scheme which led to £50m FSCS pay-outs

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The Upper Tribunal found five advisers guilty of not scrutinising where pension funds were being invested. The FCA has banned the five former advisers for their role in a pension switching scheme into high-risk investments which led to funds being...