Find out why MyExpatSIPP is the ideal solution for US residents & citizens, UK Pension information for US citizens and residents, 3 sensible reasons to transfer your pension to a SIPP. It’s no surprise that many SIPP providers are currently seeing a significant increase in maximum contributions from their most affluent customers, ahead of the changes coming through next year. We’ve previously written about how to choose the right SIPP. By James Hetherington On 5/29/18 at 9:20 AM EDT . Last year, in the Sipp industry's annus horribilis, seven well-known providers collapsed or had to be rescued by other firms. At the other end of the table, James Hay and Bestinvest received the lowest customer scores (54% and 58% respectively). We rely on advertising to help fund our award-winning journalism. Regulators and the courts are now catching up, pushing firms to edge as compensation claims pile up. When we looked at pension drawdown charges in July, our analysis showed that Sipps tended to be among the cheapest options for larger pots, compared with traditional pension providers. Britain's worst pension providers have been named for the first time in official tables that reveal how some insurers are paying annuities 30% below the best deals on the market. But, it should be the trigger for a review of alternative options, to compare the fees you are paying, with those of other providers. To find the best options in the market, Which? See here for list of the cheapest Sipps currently available. Share. This month was the worst of the toll-fraud. In many cases, these toxic investments are now coming home to roost. The information contained on this website is provided as guidance only and should not be construed as advice or a personal recommendation. In the worst case, it could put your SIPP provider out of business. We also reviewed the core fees that they charged, based on seven different pot sizes. And earlier this year, the largest stockmarket SIPP provider posted a 5 per cent fall in pre-tax profits, stating it was partly due to a reduction of £17m of lower margins on client cash. Is Your SIPP Operator Earning 9 Times More Than You On Your Cash? However, HMRC has since won the right to an appeal, with the court date set for either 20, 21 or 22 May 2019. You need to be a subscriber to join the conversation. If the Sipp is transferred to another provider you may be given a choice to transfer to an alternative of your own choosing. AJ Bell and Halifax both received an excellent overall customer score of 72% and have been named Which? Sell. These are held in trust outside of the Sipp business and should be safe. ©2020 Investment Sense Ltd Registered in England No: 07050841.