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Another major pensions company has predicted its annuity sales will plummet following the Budget.

Curtis Banks has predicted the Budget pension reforms will have a beneficial knock on effect on the Sipps sector as it announced today that its profits have more than quadrupled to £3.4 million.

A newly appointed pension technical manager is set to take up his role at a Sipp firm later this month.

The Budget pension reforms led to about £15m of annuity sales at Legal and General being cancelled, the company reported today.

The Tax Incentivised Savings Association will hold two workshops covering key aspects of Sipps for professionals who are new to the sector.

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