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An ex-Pensions Minister has blasted Theresa May’s new Government for effectively relegating pensions to the second tier.

Sipp and SSAS Rowanmoor Group has been bought out, it has been announced.

Consumers choosing income drawdown without using a regulated adviser are to come under the regulatory spotlight.

Curtis Banks has continued its Sipp acquisition trail by acquiring 5,000 Sipps - with assets under administration of approximately £630m - from the administrators of European Pensions Management.

The average FSCS compensation payments for a Sipp-related claim increased by 31% in the last financial year.

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