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The fall-out from a General Election inevitably involves a game of musical chairs; masquerading as a Parliamentary reshuffle.
After serving six years on the AMPS Committee, three years of which as Chairman, I felt that it was the right time to step down and let someone else take the helm.

Showing my age, one of my all time favourite Motown songs is: “The world is like a great big onion” by Marvin Gaye and Tammi Terrell. I am reminded of this classic at every budget or autumn statement because our pensions world has been growing like an onion – with layer upon layer of complexity added almost every time the Chancellor gets to his feet.

The FCA advised AMPS at the beginning of August that they had issued an alert highlighting some of the risks arising from authorised firms accepting business from unauthorised introducers and lead generators.

After reflecting on developments in the SIPP market over the last few weeks I’ve concluded that it’s definitely a case of out with the old and in with the new.

In the lead up to the Spring budget there was a fair amount of speculation about what major (negative) changes were going to be made to pensions.

Earlier this week I spoke at a TISA seminar on Mastertrusts. I was a bit of an interloper – Mastertrusts are certainly not my specialist subject – but I was asked to talk about lessons to be learnt from the Sipp market.

I try to avoid speculating on the outcomes of the Budget. However as this year’s fast approaches one can’t help but take a great deal of interest on the various views being expressed on what will be the aftermath of the Green Paper – Strengthening the incentive to save: a consultation on pension tax relief. So I think this time I will take a punt.
Two things have happened at the beginning of this month that will have a major impact on my life.

Back in 2001 - when we almost succeeded with a MBO of the Sipp provider I was running (Personal Pension Management Ltd long since defunct) – I was questioned by the VC who was backing us about the sustainability of the interest “turn” that we derived from the pooling of bank accounts.

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