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About one out of five people are still failing to save anything at all towards their retirement, a report has suggested.

There is no hiding place for businesses failing to meet the new capital adequacy rules, a Sipp firm managing director says.

The new capital adequacy rules took effect this week but Sipp experts say there are still grey areas that could be problematic.

Curtis Banks Group achieved an operating profit of £1.631million and administered 67,161 Sipps in the six months to the end of June.

Sipps specialist Claire Trott is leaving Talbot and Muir, the company revealed this morning.

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Nearly 1 in 5 failing to save anything for retirement