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If you are a Directus SIPP or Qualitas SIPP client the Trust Deed will be changing. With effect from Monday 30th April Clause 11.6 shall be amended to remove reference to the financial adviser as follows:
11.6 The Administrator shall appoint or remove a Platform Service Provider selected by the Administrator in its absolute discretion. The Trustee and the Administrator may take all and any steps required to ensure any agreement with the Platform Service Provider (whether directly with the Trustee or with any other person) is effectively implemented or terminated including, but without limitation, transferring some or all of the assets of the Fund to the Platform Service Provider to hold as nominee, custodian or otherwise on behalf of the Trustee subject to the terms of any agreement with the Platform Service Provider. The Administrator shall notify the Members and Beneficiaries in writing as soon as reasonably practicable of the appointment or removal of any such Platform Service Provider. Any failure on the part of the Administrator to notify the Members and Beneficiaries pursuant to this Rule shall not invalidate the appointment or removal of any such Platform Service Provider. On the appointment or removal of a Platform Service Provider by the Administrator, the Administrator may take all and any steps required to effectively implement or terminate the appointment of a Platform Service Provider including, but without limitation, transferring some or all of the assets of the Fund to the Platform Service Provider or otherwise complying with the terms of any agreement with that Platform Service Provider.
John Dowding Dip PFS
Morgan Lloyd Administration Limited
This information reflects the regulatory and taxation situation as it affects pensions at the time of publication in April 2017 and is provided to the best of our knowledge. It is not a complete representation of the pensions legislator landscape and is for guidance and information purposes only. We cannot be held responsible for any errors, omissions or subsequent legislative changes.
For further information on your pension scheme administered by Morgan Lloyd, or any enquiry, please do not hesitate to call and one of our team members will be happy to helpView more