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Whatever happened to 'IPA's?
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Milarky
Posts: 6,356 Forumite
Are the current 'SIPP's what became of 'IPA's 'Individual Pension Accounts' which I Googled by chance yesterday and seemed to be a govenerment proposal back in 2000/2001? There seemed to be some delay in the original introduction date of April 2001 but a lot of the stuff I could see was old 'subscription only' so I could not read past the links
.....under construction.... COVID is a [discontinued] scam
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Comments
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I cannot remember but wasnt that the forerunner for the NPSS that never got off the ground and we ended up with stakeholder instead.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Treasury's idea of the IPA
The industry saw that what the Govt wanted could be delivered more or less within the existing SIPP rules.So the low cost providers went for it and the IPA got lost on voyage.As the stakeholder probably will be as well, when the NPSS comes in.Trying to keep it simple...
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The stakeholder is going to be hit on two fronts.
1 - The NPSS
2 - The FSAs RDR review which wants factory gate pricing and customer agreed remuneration.
The NPSS will be better than a stakeholder a lot of people and for those that it isnt, then personal pensions and SIPPs will be better.
The factory gate pricing and customer agreed remuneration model doesnt work with stakeholder products.
So, the stakeholder becomes obsolete.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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