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An organisation which represents schemes providing pensions for over 17 million people has labelled the new options for retirees arising from the Budget reforms as "baffling".

There was a 46% rise in the number of complaints about Sipps made to The Pensions Advisory Service in the last year.

Total assets of the world's largest 300 pension funds grew by over 6% in 2013 to reach a new high of almost US$15 trillion, freshly released figures showed today.

A ruling against a Sipp operator which sparked fears of a precedent being set and a rise in claims will be reviewed by The Financial Ombudsman Service.

A former senior consultant at Broadstone Pensions & Investments has moved to Sipps firm Mattioli Woods.

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