FSCS Limits in a pension

This is really basic, i know, but is it right that a SIPP with multiple investments with multiple institutions, will each have a £50,000 limit for protection?

Comments

  • Depends on the type of sipp and who the claim is against.

    A pension investor in an insured scheme doesn't own the investments, only a right to the value of them, and has no fscs protection from default of any underlying investment fund manager (but that does not mean there isn't any protection).

    The protection for the pension provider going into default is usually 100% of the claim with no upper limit.
    Benjamin Fabi FPFS
    Chartered Financial Planner

    http://twitter.com/benjaminfabi 
  • oh right.

    If I have a SIPP with 'retail' OEICs in - Fundsmith Equity, let's say. I can't claim £50,000 if Fundsmith go busto?

  • Correct. You don't own the assets, the trustees do.
    Benjamin Fabi FPFS
    Chartered Financial Planner

    http://twitter.com/benjaminfabi 
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