Introduction
Sipps will be an increasingly important area of the industry over the next year thanks to the retirement freedom rules that you have undoubtedly read innumerable articles about.
As Sipps grow in number, the adviser’s job does not get any easier. After all, the more Sipps there are to select from, the more difficult the job of choosing how to invest the money becomes.
In the meantime, the capital adequacy requirements were finally announced last August after years of patiently waiting. The rules state that providers will have to hold at least £20,000 in reserve by September 2016. But the question in many advisers’ minds remains whether the amount is really enough.
This year’s survey covers all the regular topics, including how well the industry is shaped in the run up to the pension freedoms this month. As usual, it looks into the amount of Sipps this year and how well providers are already prepared for the capital adequacy requirements.
We also look into Sipps in a changing market. While everyone is aware of the changes coming to the retirement world in April, how can Sipps benefit from the overhaul?
There are changes to death benefit tax and we examine which products are best suited for providing income benefits to beneficiaries.
Commercial property is always a hot topic for Sipps, dividing many over whether it should be a standard or non-standard allowance. It is asked whether it should be considered a standard asset in spite of the liquidity and time issues surrounding it.
We also look into whether bespoke Sipp flexibilities are compatible with the world of pensions in 2015.
As with our previous surveys, your views are always welcome would like to hear any suggestions you have and whether there are any other areas you would like to be covered.
