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Welcome to Alltrust

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Alltrust Services Limited has recently purchased the PSG SIPP book. 

  • More than 11,000+ SIPP members 
  • £2.9+ bn under Administration 
  • Established in 2005 

We are committed to using our expertise to help all our members achieve their retirement goals. 

Effective communication is key to successful pension management. We understand that the circumstances are challenging, but we will prioritise keeping you informed. 

Video by James Floyd, Managing Director of Alltrust Services Limited.

Our approach involves working with you to understand your requirements, providing updates as they become available, and delivering clear reporting on the status of your pension. 

IMPORTANT NOTE: Resolving the many issues around these schemes will likely take a significant amount of time and effort. 

We recognise that your pension is a critical component of your financial future, and we take our responsibility as a UK pension provider seriously. Our goal is to collaborate with you, and if appropriate, your adviser, to make informed decisions that promote the growth and security of your pension, setting you up for the retirement you envision. 

Alltrust will work with you to restore integrity to your pension arrangements. 

We will do our best to address your concerns, and in return, we ask for some patience as we work through each scheme and strive to deliver your preferred outcome. For now, as we have limited data on member-specific circumstances. 

We have tried to answer some general queries in our FAQs (shown below). 

There will be a clearly defined process, and you will be informed of your options in writing by the PSG administrator, Evelyn Partners. 

You can find out more about Alltrust through our website and by watching our short introductory video on this page. 

FAQs

Can you provide some background on Alltrust and its core services?

Alltrust Services Limited (“Alltrust”) is a UK-registered pension provider and retirement services company focused on operating and administering Self-Invested Personal Pension (SIPP) schemes, with over 11,000 members at the time of writing. It is financially regulated by the FCA (FRN: 461966), ensuring that members’ pensions are managed within strict regulatory frameworks to safeguard their investments. 

In what ways does Alltrust plan to improve on PSG’s pension management strategies?

Alltrust aims to offer a more personalised service, greater transparency, and a strong focus on long-term stability. We will implement enhanced service standards while ensuring regulatory compliance and a streamlined approach to pension management.

Do Alltrust or any of its senior management have any financial connection to either deVere Group or Nigel Green?

There is no working, financial or other type of connection between Alltrust and deVere Group or Nigel Green and neither party have any ownership, involvement, or influence over Alltrust, and the decisions made.

Alltrust is actively involved with the two industry pension scam groups and are signed up to the relevant codes of conduct.

Can you provide insights into the financial stability of Alltrust?

Allturst has a solid reputation within the financial services industry. Alltrust is backed by experienced leadership in pension management and is focused on delivering strong, stable services for its members. 

What measures does Alltrust implement to shield pension investments from market fluctuations and economic challenges?

Alltrust works with leading investment monitoring providers to support a diversified investment platform, spreading assets across various sectors and geographies to reduce exposure to risk. All investments within our SIPP products must adhere to both HMRC guidelines and our Permitted Investment List. We closely monitor investment outcomes to help prevent poor choices and ensure the platform remains aligned with members’ long-term objectives. 

Given that PSG has faced criticism for acquiring failed SIPP books, is Alltrust following a similar approach?

While Alltrust has acquired multiple SIPP schemes from PSG, our focus is on improving the management of these schemes. We take a proactive approach to customer service, aiming to restore confidence in these pensions by ensuring compliance and improving administration. 

Can you explain Alltrust’s investment philosophy and how you decide on strategies to manage and grow pension funds?

Alltrust’s investment philosophy centres on providing a platform for members to choose investments that best fit their needs, in consultation with their financial advisers. We do not provide investment advice, but we ensure that all investment choices adhere to HMRC regulations and are approved under our Permitted Investment List.

Was Alltrust financially compensated for becoming the nominated operator of PSG’s SIPP schemes?

No, Alltrust was not financially compensated for becoming the nominated operator. The assets were acquired from the administrator as part of a strategy to improve the management and stability of the pension schemes. 

How large is Alltrust’s current team, and are they equipped to manage the volume of PSG’s SIPP schemes?

Alltrust has a team of 85 skilled pension professionals. After the transition, the staff of PSG will join Alltrust, bringing the total to over 130, ensuring that we are well-equipped to manage the increased workload. 

What are Alltrust’s fees, and what services are included in the fee structure?

Alltrust’s fees cover a range of services including administration, regulatory reporting, and trustee services. The exact fees will vary depending on the type of SIPP and specific arrangements in place. There will be no immediate changes to the fees currently charged by PSG, and members will be informed well in advance if changes are made. 

How does Alltrust customise its pension services to fit individual needs and retirement objectives?

Alltrust does not provide investment advice, but we work closely with our investment monitoring provider to ensure that members’ chosen investments align with their long-term goals. Our platform allows for a high degree of flexibility, enabling members and their regulated advisers to select investments that fit their risk tolerance and retirement objectives.

Should I expect my financial adviser to reach out regarding a potential transfer of my pension due to this change in operator of my SIPP?

Yes, your financial adviser should stay in regular contact with you regarding your pension and investment options, ensuring that you are informed about any changes or transfers that may affect your pension. 

If my financial adviser is regulated in another country, can they still provide advice on my SIPP scheme?

Whether your adviser can continue advising you will depend on the regulatory framework in your country of residence and the specific rules governing cross-border pension advice. It’s advisable to check with both your adviser and Alltrust for clarity.

Will my investments or holdings be affected by the transition to Alltrust?

Your investments or holdings will not be impacted by the change in the pension operator. Alltrust will continue to administer your SIPP as per the existing arrangements. Any investment decisions should still be made in consultation with your financial adviser. If there are any required changes, you will be informed in advance. 

Are there any changes to the investment options available under my SIPP with Alltrust?

At present, Alltrust will maintain the same investment options that were available under PSG’s management. Should there be any changes or additional options introduced, these will be communicated clearly to all members. 

How does Alltrust ensure the security of my investments in case of market downturns?

As a self-invested pension scheme (SIPP) provider, Alltrust does not provide investment advice. However, we work with leading providers and offer a platform that supports diversified investments across various asset classes and geographies. The responsibility for managing your investments lies with you or your appointed financial adviser. It’s important to consult with your adviser regarding appropriate risk management strategies. 

Will the transition affect my ability to take pension benefits or make withdrawals?

No, the transition to Alltrust will not impact your ability to take pension benefits or make withdrawals. The process for accessing benefits, including drawdown and lump sum options, will remain the same. If you have any queries or need support, our team is available to assist you. 

How does Alltrust plan to communicate important updates to members during this transition?

Alltrust is committed to transparent and timely communication. We will provide regular updates through email, postal correspondence, and our website. Additionally, our customer service team is available to answer any questions or concerns you may have throughout the transition process. 

Did PSG go into administration?

PSG SIPP Limited has entered administration – this is a legal process that helps protect customers when a financial company faces difficulties. Through a process known as a ‘pre-pack administration’, Alltrust Services Limited has acquired PSG SIPP’s assets. This pre-planned approach helps ensure a smooth transition and minimal disruption to pension services.

Important points for customers:

  • Your pension is safe and continues to operate as normal
  • You can still contribute to, withdraw from, and make investment decisions about your pension
  • Most pensions have been transferred to Alltrust Services Limited, a regulated pension operator
  • If you have a Unity SIPP, it will be transferred to London and Colonial Services

Key terms explained:

  • SIPP: A Self-Invested Personal Pension that gives you control over your pension investments
  • Administration: A legal process where independent experts (administrators) take control of a company to protect its customers and assets
  • Pre-pack administration: A planned process where a company’s assets are sold immediately after entering administration, helping to protect services and customers’ interests
  • Regulated operator: A company authorised by the Financial Conduct Authority to manage pension schemes