The cautionary tale of Carey Pensions
As Carey seeks another court appeal, the never-ending Sipp drama is becoming more painful than Brexit. When will it stop?
By Michael Klimes 15
Image credit: Shutterstock
There is no immediate resemblance between Brexit and an obscure court case involving a Sipp provider.
One is a national psychodrama that will define the direction of the country for generations. The other is a niche legal dispute that attracts the interest of oddball pension journalists: the Carey Pensions court case.
But take a closer look and unusual parallels start to emerge.
Initially, both are not given much attention, yet they snowball to become the main fixture in the news cycle. This draws passionate comment from individuals not directly involved in the matters at stake. The buzzword, whether it is Brexit or Carey, is a proxy for deep-seated grievances.
Landmark court ruling turns client losses back on Sipp provider
By Michael Klimes 1
st April 2021 12:36 pm
The Court of Appeal has overturned a landmark judgment, ruling that a Sipp provider was in fact responsible for their ex-client’s losses.
The judgment marks a watershed over how much responsibility a Sipp provider has to vet unregulated investments.
It also brings to a conclusion several years of legal wrangling between Russell Adams and his old Sipp provider Options UK Personal Pensions LLP.
Options, formerly known as Carey Pensions UK, was fighting to maintain a key judgment it won in May 2020 against its former client Adams.