Personal Pensions
The question
To ask the Chancellor of the Exchequer, what steps the Financial Conduct Authority is taking to (a) enhance its oversight of Self-Invested Personal Pension operators and (b) review the capital adequacy requirements for those holding portfolios containing high volumes of non-standard or illiquid assets.
Answered by Torsten Bell
Self-Invested Personal Pensions (SIPPs) are a type of personal pension regulated by the Financial Conduct Authority (FCA) that give savers more choice over how they invest their retirement savings.
In December 2024, the FCA published their discussion paper “Pensions: Adapting our requirements for a changing market”. This paper invited feedback about due diligence and client asset requirements in the SIPP market.
The discussion paper has now closed and the FCA expects to consult on new proposals in Q1 2026.
The FCA continues to monitor developments and remains committed to making sure that its requirements are proportionate and effective.
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