SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has warned that an increasing number of Small Self-Administered Schemes (SSAS) approvals are being rejected by HMRC.

In a Dear CEO letter issued on 22 March to pension providers the FCA appear to imply that the role of a pension provider is now as a gatekeeper for defined benefit transfers. 

As the Chair of AMPS, I dread the day that the Financial Ombudsman Service complaints data is published.