A Treasury U-turn on the pension reforms has been hailed by a Sipps firm as "a victory for common sense".

A Sipps firm has spoken out about the unfairness of aspects of the new rules arising form the scrapping of the so called death tax.

The James Hay Partnership has today reported that it has broken through the £16bn assets under administration mark.

The Financial Services Compensation Scheme has reported receiving more than 500 claims relating to Sipps.

Smaller Sipp firms will be best placed to meet the challenges ahead in the sector over the coming year, the managing director of Liberty Sipp believes.

The Sipp market will ultimately split into two, one of the leading sipp providers has predicted, while another believes platform Sipps will take the majority of business in future.

Changes to pension rules have provided members of older schemes with a "rare window of opportunity" to transfer to a new pension arrangement and retain any higher tax-free lump sum, a Sipps firm believes.

More than six out of ten complaints about Sipps to the Financial Ombudsman Service have been upheld since 2013.

Analysis of the latest mortality data has shown how limited the impact of scrapping the pensions death tax will be, according to a Sipp provider.

Two Sipps firms have strongly backed the move to consign the 'death tax' on pensions to the rubbish bin today, with one director saying it reaffirms the rebirth of the system.