PSG SIPP Limited

PSG SIPP Limited was a financial services company that specialised in acting as an operator and administrator for Self-Invested Personal Pensions (SIPPs) in the United Kingdom. A SIPP is a type of personal pension plan that allows individuals greater control and a wider range of investment choices for their retirement savings. On 20 June 2023, the company appointed Joint Administrators from Evelyn Partners LLP and ceased all regulated activities. This action was taken after the company became insolvent due to the financial impact of numerous complaints upheld by the Financial Ombudsman Service (FOS), which related to the company's alleged failure to perform adequate due diligence on high-risk, non-standard investments accepted into its SIPPs. The Financial Services Compensation Scheme (FSCS) is investigating whether there are any claims that meet their qualifying conditions.