The Association of Member-Directed Pension Schemes (AMPS), the trade body for SSAS and SIPP providers, has announced that it is forming a platform sub-committee. Neil MacGillivray, Honorary Secretary of AMPS will chair the sub-committee and is currently agreeing membership.
With the increasing importance of platforms in the pensions sector, in particular in relation to the provision of SIPPs, the AMPS Committee is becoming concerned that there isn’t one trade body looking at the ramifications for providers, advisers and ultimately the consumer. The sub-committee will address this and will consider industry issues and make representation to Government bodies such as HM Revenue & Customs, the Financial Services Authority & HM Treasury.
AMPS Chairman, Andrew Roberts said: “With the implementation of RDR less than 12 months away the platform market looks set to grow considerably and one of the drivers of this will be pensions. As a committee we have become concerned that there has been a great deal of debate on SIPPs, their suitability and the charges associated with them. We are forming a sub-committee so that we can benefit from the huge knowledge base and experience of our member firms”.
The AMPS Committee's response to the consultation was issued on 15th February. A copy can be viewed via the link below. Though the consultation's two questions were of narrow focus, the AMPS response sought to consider them by reference to the broader context of the continuing restriction of pension tax relief;Pension scams consultation
16th Feb 2017 4:27 pm
The AMPS Committee's response to the HM Treasury/DWP consultation on pension scams has been completed and submitted. The consultation was of particular interest to AMPS, given its reference to SSAS and pensioneer trustees. It gave good opportunity to restate the importance of SSAS in UK pension provision, and to write inMaking Retirement Choices Clear
14th Feb 2017 9:58 am
The ABI has published a language guide for communicating pension freedoms with the aim of simplifying pension jargon.
6th Dec 2016 11:56 am
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