28 January 2008
According to SIPP administrator Hornbuckle Mitchell, the
timescale for transfer values paid into self-invested personal
pensions will be cut by new Financial Services Authority (FSA)
regulations.
Clients often face lengthy delays when moving funds from an
insurance company-run personal pension into a new SIPP, but
according to Hornbuckle Mitchell, the FSA's new Treating Customers
Fairly (TCF) principles would make pension providers invest more in
manpower needed to handle transfers.
