Focus 122 – Non Standard Investments (NSIs) – Questions that should be asked of SIPP providers

The hot topic currently within the SIPP world is ‘non-standard assets’ (NSIs) and more particularly the rise to prominence of the so called ‘toxic’ NSIs that have featured in the recent Berkeley Burke High Court case and will rear their head again in the forthcoming Carey Pensions case.

Comparing SIPP providers isn’t as easy as it should be and to make your due diligence easier, we have created a list of questions (together with our own responses) that we believe will provide you with a much greater insight into our limited exposure to NSIs. This is now available as part of our due diligence pack and we urge the industry to follow suit and provide a clear and uniform approach to this issue.

We believe that a set of standard questions, specifically focused around NSIs and capital adequacy should be agreed by the industry and every SIPP provider should supply their responses to these questions when asked to do so.