FSCS expects thousands of SIPPs claims

FSCS expects thousands of SIPPs claims

The Financial Services Compensation Scheme (FSCS) is expecting to face thousands of claims for mis-sold pensions after a major administrator went into administration. GPC Sipp administered 3,200 SIPPs and another 50 Small Self Administered Schemes (SSAS pension trusts) with an estimated investment value of £130 million. Insolvent But it became insolvent after several ‘alternative investments’ …