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Protecting consumers from unscrupulous scammers and conmen has been a priority for the financial services industry for some time.
The end of the tax year is traditionally a really busy time for adviser and SIPP providers.
The beginning of February saw the FCA issue a discussion paper DP18/1: Effective competition in non-workplace pensions. Within the discussion paper, the FCA estimates that non-workplace pensions amount to around £400bn in AUM, double the amount invested in DC pensions schemes.
The run up to the end of the tax year can be a very busy time for advisers and is an ideal time to ensure that clients review their expression of wishes form. Trustees do have the discretion to select who will receive benefits, but will of course take account of any in an expression of wish form.
Normally the end of the year is quiet in terms of changes to the pensions industry, but 2017 bucked this trend with a very sensible move by the Scottish government.

From 1 April, just three months away, there are significant changes coming into effect that will impact the leases of commercial properties held within a SIPP or SSAS in the UK.
When SIPPs were created in Chancellor Lawson’s Budget speech back in 1989, the world was a different place. We were pre-financial crisis, pre-simplification, pre-freedom and choice and less engaged with saving for the long term, in part due to the pensions industry having been dominated by DB schemes.
Crypto currency may sound like something from a science fiction movie or Series 11 of Doctor Who, which will see Jodie Whittaker become the first female Doctor, but the reality is investors are piling a lot of money into these vehicles.
Despite the current Brexit negotiations, the UK will forge ahead with the implementation of new data protection rules, which will see all previous legislation replaced.
Pensions are complicated enough for providers, advisers and clients to administer and understand.
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