Barnett Waddingham launches bid for orphaned SSAS clients

SIPP and SSAS provider Barnett Waddingham today launches its bid to buy up clients who have been ‘orphaned’ by providers and advisers who have left the market since A-Day in 2006.

Barnett Waddingham proposes to cover some exit costs of previous administrators for new clients. It will also pay charges of up to £450 plus VAT towards the cost of transferring SSAS pensions to Barnett Waddingham.

"We have found many schemes are not getting the attention they need, either where there is no longer a professional involved, or where in some cases, schemes have even been left without a scheme administrator," says Richard Millson, SSAS partner at Barnett Waddingham.

"With pension rules changing, it is vital that these people are served by an experienced pension provider.

"We want to make moving a SSAS to Barnett Waddingham as easy as possible for them and the contribution towards costs should help this process."