A leading pensions body has insisted its members still believe the new capital adequacy rules for Sipp firms are "flawed" despite failing with its attempt to bring a Judicial Review.
A decision on whether a Judicial Review concerning the new capital adequacy rules will be allowed to go ahead should be known in the next few weeks.
James Hay Partnership, the platform for retirement wealth planning, is calling on HMRC to create a Pensions Nil Rate Band (PNRB).
There is likely to be a further delay to the Sipps capital adequacy consultation, the annual conference of AMPs - the providers' association - heard this week.
The Annual Conference of AMPS (the Association of Member-directed Pension Schemes) gets under way today (Weds 21 May) in London at a critical time for the sector, says chairman Neil MacGillivray.
HM Revenue & Customs says it is taking steps to tackle the increasingly sophisticated models being used by so-called pension liberation companies.
The Association of Member-Directed Pension Schemes (AMPS) - the Sipps and SSAS providers' body - has appointed James Hay's head of technical support Neil MacGillivray as chairman.
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