Three things we learned this week

Retirement Planner’s round-up of the top pension stories this week.

SIPP market consolidation inevitable in 2012

Large-scale SIPP provider mergers are likely throughout this year as many will not have the assets required if capital adequacy requirements are increased, according to Suffolk Life.

The provider believes this is most likely to affect those dealing with more complex investments and those who do not solely administer SIPPs.

Product and marketing director Chris Jones said those likely to weather the storm are: "The specialist providers that have the financial strength, robust systems and strong corporate governance infrastructure demanded in today's market are both best placed and most interested in this sector."

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Pointon York pens ten distribution deals after £200k loss

Pointon York has signed distribution deals with platforms, networks and intermediaries after reporting a loss for 2011.

The SIPP provider reported a net loss of £204,000 in the six months to 30 September 2011, down from £236,000 in the same period in 2010.

Jo French, managing director of Pointon York, said the provider has signed distribution agreements with ten firms in a bid to boost sales, three of which will go live before mid-February 2012.

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Equity release increases lending and sales in 2011

In 2011 the equity release market enjoyed the first annual rise in both total lending and plan sales since 2007 according to Key Retirement Solutions.

Total funds released rose 5.4% to £959.6m - the first rise in four years. Plan sales continued to grow with a 1.6% rise to 22,366 in 2011.

If untapped drawdown funds are also added in then total lending rose to more than £1.3bn.

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