As you are all no doubt aware the ‘apply to register a new pension scheme’ function is not currently available. AMPS have been advised that we will be notified of any update however there is a current expected return to normal at 9am on Tuesday 13 February 2024....
AMPS forms Platform Sub-Committee
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”.