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Petition to protect ISAs and SIPPs from Adminstration fees



 
 
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  #1  
Old July 12th 18, 02:19 PM posted to uk.finance,uk.legal,uk.d-i-y
Optimist[_3_]
external usenet poster
 
Posts: 14
Default Petition to protect ISAs and SIPPs from Adminstration fees

On Fri, 06 Jul 2018 09:36:28 GMT, lid (AnthonyL) wrote:

It appears that if the platform you hold your investments on runs into
problems the Adminstrators can take out "ring fenced" client monies to
meet their costs.

A fuller explanation is in the thread at:

http://moneyforums.citywire.co.uk/ya...ition-now.aspx

The petition is at:

https://petition.parliament.uk/petitions/222801

and needs 10,000 sigs.

Easily done if it is snowballed around your circle of contacts.


I didn't realise that SIPPs were not protected like other pension schemes.
  #2  
Old July 12th 18, 04:48 PM posted to uk.finance,uk.legal,uk.d-i-y
[email protected][_2_]
external usenet poster
 
Posts: 1
Default Petition to protect ISAs and SIPPs from Adminstration fees

On 12/07/2018 14:19, Optimist wrote:
On Fri, 06 Jul 2018 09:36:28 GMT, lid (AnthonyL) wrote:

It appears that if the platform you hold your investments on runs into
problems the Adminstrators can take out "ring fenced" client monies to
meet their costs.

A fuller explanation is in the thread at:

http://moneyforums.citywire.co.uk/ya...ition-now.aspx

The petition is at:

https://petition.parliament.uk/petitions/222801

and needs 10,000 sigs.

Easily done if it is snowballed around your circle of contacts.


I didn't realise that SIPPs were not protected like other pension schemes.


There is a clue.. Self Invested.
You decide what to invest in so you take responsibility.
  #3  
Old July 12th 18, 05:04 PM posted to uk.finance,uk.legal,uk.d-i-y
Andy Burns[_6_]
external usenet poster
 
Posts: 1
Default Petition to protect ISAs and SIPPs from Adminstration fees

[email protected] wrote:

Optimist wrote:

I didn't realise that SIPPs were not protected like other pension
schemes.


There is a clue.. Self Invested.
You decide what to invest in so you take responsibility.


The petition isn't trying to protect anyone from making their own bad
investment choices ...


  #4  
Old July 12th 18, 10:44 PM posted to uk.finance,uk.legal,uk.d-i-y
Optimist[_3_]
external usenet poster
 
Posts: 14
Default Petition to protect ISAs and SIPPs from Adminstration fees

On Thu, 12 Jul 2018 16:48:21 +0100, "[email protected]" wrote:

On 12/07/2018 14:19, Optimist wrote:
On Fri, 06 Jul 2018 09:36:28 GMT, lid (AnthonyL) wrote:

It appears that if the platform you hold your investments on runs into
problems the Adminstrators can take out "ring fenced" client monies to
meet their costs.

A fuller explanation is in the thread at:

http://moneyforums.citywire.co.uk/ya...ition-now.aspx

The petition is at:

https://petition.parliament.uk/petitions/222801

and needs 10,000 sigs.

Easily done if it is snowballed around your circle of contacts.


I didn't realise that SIPPs were not protected like other pension schemes.


There is a clue.. Self Invested.
You decide what to invest in so you take responsibility.


But the grievance the petition is addressing is nothing to do with the soundness or otherwise of the
investments, but whether where firms running the trading platforms get into debt the administrators
are entitled to help themselves to the firm's clients' assets.

Where a garage business goes bust are the creditors be allowed to seize the garage's customers' cars
brought in for a service?
 




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