21 February 2024
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SIPP and SSAS Update

To The Point
(22 min read)

In this Update we take a look at key legal developments for SIPPs and SSASs over the past few months, including the latest developments regarding abolition of the lifetime allowance, some significant FCA measures and the latest Pensions Ombudsman determinations.  These include a case in which the Pensions Ombudsman upheld a complaint against a professional SSAS trustee for its failure to consider whether an investment in Cape Verde hotel accommodation was appropriate.  A notable feature of this case was that the member who brought the complaint was also a trustee of the SSAS, but the Ombudsman apportioned liability 80%/20% between the professional trustee and member trustee.  We consider the implications of the case for professional SSAS trustees.

Pensions Ombudsman
Pensions Regulator

To the Point 

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