Hartley Pensions Limited – requirement to stop accepting new pension contributions

Hartley Pensions Limited (Hartley Pensions), is a SIPP (Self Invested Personal Pension) operator authorised and regulated by the FCA. It also provides administration for a small number of SSAS (Small Self-Administered Schemes), regulated by The Pensions Regulator. On 11 July Hartley Pensions asked the FCA to impose requirements preventing it from accepting ongoing contributions into the SIPPs/SASSs administered by it and temporarily stopping transfers or switches of SIPPs or SSASs until 22nd July at the earliest, which the FCA agreed to. This means that you cannot currently make any new or ongoing contributions into your SIPP or SSAS, or move your SIPP or SSAS to another provider (if your request to move was received prior to these requirements being imposed but your SIPP or SSAS has not been moved, this request will not be processed). The requirements have been imposed due to a number of serious operational and regulatory issues that the firm are attempting to deal with and is intended to protect all of the firm’s customers. If you are regularly withdrawing money from your SIPP, you can continue to do this, and pension payments will continue to be made. As the firm cannot continue to provide the service expected by clients, they are seeking to find another SIPP Operator able to take over the operation of Hartley Pensions. Whilst the details are being agreed, the firm will provide regular updates on progress. This article sets out what Hartley Pensions clients can expect. If you are a client of Hartley Pensions, the firm will be writing to you shortly to explain what this means for you. What does this mean for my pension pot? Your SIPP or SSAS assets are unaffected by these restrictions. They are held on trust by separate trustee companies. However, as set out above, you will no longer be able to make contributions into your SIPP or SSAS and for a short period of time you will not be able to transfer or switch your SIPP or SSAS from Hartley Pensions to another firm. You can reach out to your financial adviser to understand how this impacts you. If you do not have one and wish to speak to one, please, visit the FCA website on finding a financial advisor. You can contact Hartley Pensions on 0117 316 9991 for more details. Hartley Pensions remains authorised by the FCA and subject to our rules. We are continuing to engage with the firm in relation to the issues it is facing, but, in line with standard FCA practice, we do not comment on individual firms. All customers should remain alert to the possibility of fraud. If you are a client of Hartley Pensions and are cold called by someone claiming to be from Hartley Pensions, please end the call and call the firm using the details below: Email: [email protected] Call:0117 316 9991 Original Article Here