Transfer to a self-invested personal pension

Have you transferred to a SIPP?

Self Invested Pension Schemes were introduced to fill a small gap in the market where a small number of pension investors wanted more control over their pension investments. They were designed for sophisticated investors who perhaps had an interest in the stock market through experience with shares and unit trusts.
Unfortunately, the product has been abused by many financial firms meaning that the following has happened:

  • Small pensions have been transferred into these schemes and the charges will be greater than previously paid.
  • Investments in unauthorised schemes have allowed advisers to be paid commission even though commission was banned in 2006.
  • People who had no intention of directing their investments are now left with managing their funds.


We are seeing a disturbing number of cases where clients have been shoe horned into SIPPS which invest in inappropriate investments that pay excessively high commissions to advisers. Many of these are non-traditional investments and are now worthless. Some examples of non-traditional investments which pay high commissions to advisers :-

  • Storage Pods
  • Eco products
  • Agri Products
  • Ethical Forestry
  • Overseas property
  • Chinese Stock
  • 10 year Property Bonds
  • Farmland
  • Overseas Investments
  • Hotel Schemes
  • Car Park Schemes
  • And many others!


Should you claim? We appreciate how complex pensions can be, so contact us today to discuss your case on a no win no fee* basis.


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