PSG SIPP Limited (PSG SIPP) went into administration on 25 October 2024. Christopher Allen and Adam Stephens of Evelyn Partners have been appointed as joint administrators.
All SIPP schemes administered by PSG SIPP, except Unity SIPP, have been transferred to the regulated SIPP operator, Alltrust Services Limited (Alltrust). PSG SIPP has exchanged contracts with London & Colonial Services (LCS), a regulated SIPP operator, to acquire Unity SIPP.
Unity SIPP customers will be supported by Alltrust for a limited period. Once LCS has completed its purchase of Unity SIPP, it will write to impacted customers to explain what is happening to their pension funds, as will Evelyn Partners.
These deals mean that PSG SIPP customers, including Unity SIPP customers, can continue to contribute, withdraw and make investment decisions the same as before.
Evelyn Partners and Alltrust will communicate next steps to customers holding SIPPs previously administered by PSG SIPP.
This article sets out the steps PSG customers should take and advice on how to protect against scams.
Update: sale of Unity SIPP
On 9 January 2025, Pathlines Pensions UK Limited (Pathlines) (formerly known as London & Colonial) completed the purchase of Unity SIPP.
Pathlines will now provide all administrative services to Unity SIPP customers. Evelyn Partners and Pathlines will contact all Unity SIPP customers to provide more information on the transaction.
Unity SIPP customers do not need to take any action.