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Two firms have struck a deal to create a "sophisticated portal" for administering UK Sipps and SSAS.

Big life and pensions companies are "running scared" of the Budget reforms and appear to be angling for the implementation date to be postponed, a Sipps firm chief executive has claimed.

Barnett Waddingham has purchased Chase de Vere's Sipp and SSAS book for an undisclosed fee, it announced this morning.

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

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.

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