SIPP and SSAS round-up

Our Spring round-up highlights some complaints which have come before the Pensions Ombudsman, and Financial Ombudsman Service, and reminds you of some key developments for SIPPs and SSASs.

We focus on determinations that highlight recurrent issues for SIPPs and SSASs – in this edition we consider investment duties, having effective processes in place for spotting fraud, transfers, due diligence, and delays. The cases also demonstrate how the ombudsmen address issues such as jurisdiction and their approach to determining cases.

If you're a SIPP provider, SSAS professional trustee or administrator, or financial advisor, read more to find out how best to apply key learning points from the determinations to your own business.

This publication is intended for general guidance and represents our understanding of the relevant law and practice as at April 2024. Specific advice should be sought for specific cases. For more information see our terms and conditions.