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The platform Hubwise has halved the cost of its SIPP plan, it says, and has reduced entry costs as the company’s chief executive lambasts 'unfair' high charges he claims are prevalent in the sector.

The acquisitive Embark Services Group, parent company of Sipp provider Rowanmoor and platform Avalon, reported pre-tax losses widening last year from £1.46m to £2.36m.

Sipp and platform provider AJ Bell has urged Chancellor Philip Hammond to avoid slashing pension tax relief in the Budget after speculation that the Treasury will need to cut pensions relief to make up for shortfalls in revenue and to curtail the rising cost of pre and post-retirement tax benefits.

The Association of Member-Directed Pension Schemes (AMPS) is to host its annual Compliance and Technical Seminar on 9 October at the Hilton London Paddington. 

Former pensions minister Sir Steve Webb has warned that Labour Party plans for reduced state pensions from 64 “face serious practical obstacles.”

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