InvestAcc Pension Administration

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Financial Strength

Financial Strength

Who is InvestAcc Pension Administration Limited?

We are a specialist SIPP and SSAS Provider, a fully owned subsidiary of InvestAcc Group Limited (a privately owned company).

How long have you been operating SIPP and SSAS products?

We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by the addition of our latest offering, SIPP Lite, which has been available since July 2012.

What financial protections do I have?

In the case of SIPPs, investments are held by a separate company, InvestAcc Pension Trustees Limited, along with the SIPP member as co-trustee. Although we are recognised as the joint legal owners, we have no ability to use any of the scheme assets for our own benefit. The trust structure clearly separates the trading company, InvestAcc Pension Administration Limited, from the assets of SIPP members, in accordance with regulatory requirements and best practice.

For the Minerva SIPP and SIPP Lite, each member will have an account with Newcastle Building Society that will be eligible for up to £75,000 protection under the UK Financial Services Compensation Scheme. See www.newcastle.co.uk for more details.

Underlying investments made by SIPP members are a matter primarily for them and their advisers, and these investments may or may not be afforded any further financial protections. Note that InvestAcc Pension Administration Limited does not provide financial or investment advice of any kind.

What is your capital adequacy position?

We operate an efficient business model from our base in Carlisle with no borrowings, having grown steadily and organically, rather than by funding expensive acquisitions.

We meet 199.39% of the regulator’s minimum Capital Adequacy requirement (as at 1st November 2016). Being part of InvestAcc Group Limited, we have the benefit of access to further capital, should it be required.

We have been awarded a B- rating for financial strength, by AKG Financial Analytics Ltd.

The strengthening of the FCA’s capital requirements, effective 1st September 2016, puts us at an advantage to some of our competitors (whether big or small).

What about the future?

Our plans are to maintain organic growth in the business, delivering high-quality service to clients and their advisers.

The ongoing changes to SIPP regulation are something which we embrace and feel will further enhance our position relative to other market participants. For any SIPP providers that acquire, or merge with, other SIPP businesses, we anticipate that they will inevitably have a difficult period of integration of clients and systems. This disturbance may lead to SIPP customers looking for a service like ours.

We have no plans to sell the business for the foreseeable future, and expect it to remain in private and employee ownership for many years to come.