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Media  >  Press Releases  >  Archive  >  SIPP queries dominate IFA forum

20 October 2005

SIPP queries dominate IFA forum

SIPP related questions have started to dominate the Independent Financial Adviser (IFA) A-Day forum set up by Scottish Life, the pension specialist arm of Royal London.

The forum - 'Ask A Question' - was specifically designed to give IFAs a platform to ask questions of Scottish Life's resident pension experts and it also allows IFAs to share some of their concerns. Accessed through Scottish Life's website (www.scottishlife.co.uk/technicalcentral), 'Ask A Question' is part of a wider initiative by Scottish Life to educate and inform IFAs specifically about A-Day and its implications.

Whilst questions have been received on a wide range of issues, the majority have been SIPP related with numbers having increased significantly in recent weeks following a substantial surge in media coverage.

Maureen Duckworth, Pensions Technical Manager at Scottish Life, said:

"With the changes expected next year, SIPPs are seen as being very attractive and as a result are receiving huge amounts of press coverage. We are obviously pleased that issues around pensions are getting so much attention.

"What we are now seeing from the forum is that advisers are asking more and more questions about SIPPs and how they can be used as an effective pension planning tool, and we are delighted to be able to help them with this."

- ENDS -

For further information please contact:

Scottish Life

Barbara Playfair, Communications Executive
0131 456 7298
Maureen Duckworth, Pensions Technical Manager
 0131 456 7167

Mainland PR

Hilary Morison 
020 7072 2340

Editor's Notes:

Scottish Life was founded in 1881 in Edinburgh as a proprietary company, becoming a mutual company in 1968.

On 1 July 2001, Scottish Life demutualised and transferred its business to The Royal London Mutual Insurance Society Limited. Scottish Life is a division of Royal London and is the specialist pension business within the Group, providing individual and group pensions to the market via intermediaries.

Scottish Life and Royal London's other intermediary businesses are based in Edinburgh where 1300 staff are employed, with 220 working in other parts of the UK and overseas.

Royal London was founded in 1861, initially as a friendly society, and became a mutual life insurance company in 1908. Royal London is one of the stronger life and pension companies in the UK, with a current rating of 7/10 from Cazalet Financial Consulting, and has a particularly strong track record for with profits performance.

The Royal London Group has funds under management of around £25.7 billion. Group businesses serve around 3 million customers and employ 2930 people.

(Figures quoted are as at 30 June 2005)