Standard Sipp sales hit by FSA review

Pow, Helen
August 2009
Money Marketing;8/13/2009, p12
The article reports on the 26% decrease in the self-invested personal pension (SIPP) business in the first half of 2009 which is claimed due to the Financial Services Authority's (FSA) review of pension switching. Standard Life Assurance Co. chief executive Sandy Crombie said that regulatory intervention and government tax changes contributed to SIPP decline. Operating profit of the firm declined by 35% to the 243 million British pounds in comparison with the 377 million British pounds.


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