The AMPS (Association of Member-Directed Pension Schemes) has announced that Sarah Hawkins of Punter Southall SIPP and Debbie Seaton of SeaBridge SSAS have been re-elected to the AMPS committee on 1 November.
Kevin Whitmore of WBR Group was also elected to the committee, which represents the interests of over 120 member firms, including SIPP and SSAS providers, advisers, banks, investment managers and other service providers.
Following the committee’s annual conference its members have opposed the DWP’s consultation on the general levy on pension schemes.
To read more on this topic, visit: Pensions not a ‘top priority’- industry reacts to cabinet reshuffle
It proposes to increase the levy rates for schemes with less than 10,000 members, potentially including SSAS, by an additional £10,000 from 2026.
Arguing that it would be unfair and disproportionate to the small schemes sector and would discourage the use of SSAS as a flexible and cost-effective pension vehicle for business owners and entrepreneurs.
Andrew Phipps, chair of the AMPS, said: “We are deeply concerned about the DWP’s proposals to increase the general levy for small schemes, which we believe are unjustified and detrimental to the SSAS market. We urge the DWP to reconsider its approach and to engage with the industry to find a more reasonable and sustainable solution.”
