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Elaine Turtle

It is quite hard to believe that we have just welcomed in the start of a new decade as 2020 begins.

Recent developments in the Brexit saga and an inevitable snap general election led the Government to put the Sajid Javid’s Autumn Budget on hold last week to focus on getting Brexit done.

As everyone makes their way back to work following a glorious, if politically fuelled summer, it feels that the push has started towards the end of the year.

It was good to see the Guidance Consultation from the FCA on the fair treatment of vulnerable clients that has recently been published.

There has been unprecedented change in the pensions industry in recent years and SIPPs have been no exception. 

The Financial Conduct Authority (FCA) is concerned about how pension freedoms are impacting consumers and quite rightly so, especially with regards to those accessing their retirement savings and not taking advice, putting them at risk of running out of money, or worse, being scammed.
Before you think you are reading an old article, I am of course referring to the start of the new tax year. 
It doesn't seem possible that it is 30 years since the then Chancellor of the Exchequer, Nigel Lawson, stood to deliver his Budget on 14 March 1989. The immortal words ‘I propose to make it easier for people in personal pension schemes to manage their own investments’ led to what is now the self invested pensions (SIPP).
We recently saw the Financial Conduct Authority (FCA) issue a policy statement in response to the consultation it carried out in June 2018 on retirement outcomes. As part of the consultation exercise, the FCA engaged with SIPP providers and the industry body AMPS, among others.
As the last of the mince pies are eaten and the decorations all taken down, thoughts turn to what 2019 will bring for the SIPP market. While SIPPs received a lot of negative attention in 2018, advisers and their clients still see the benefits of investing in this tax efficient way.
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