Rowanmoor Pensions announces record breaking end of year new business results

14 October 2011

- SIPP sales volume up over 55% compared to last year
- SSAS sales volume up 14% compared to last year
- SIPP service standards show 99.15% of service standard turnaround achieved in 2011

Rowanmoor Pensions, the UK’s largest independent Small Self-Administered Scheme (SSAS) provider and a bespoke Self-Invested Personal Pension (SIPP) and Family Pension Trust operator, today announces its year-end new business figures, which show the largest annual number of new SIPP products the company has ever written.

There was also an increase in new SSAS products written, with the total number up by more than 14% compared to the previous financial year.

During the financial year 2010 – 2011, Rowanmoor Pensions recorded a total of 760 new SIPPs, an increase of more than 55% compared to the financial year 2009 – 2010. The results come as Rowanmoor Pensions also records a strong performance against its SIPP service standards with 99.15% of service standard turnaround achieved to date in 2011.

Annual growth in the bespoke SIPP market is estimated at 3%, according to research revealed at the AMPS Annual General Meeting on 4 October 2011. Most of the SIPP market’s 30% average annual growth since 6 April 2006 has been in the emerging mid-range and simple SIPP sectors. Although bespoke plans only represent 22% of the estimated total of 801,000 SIPPs, assets under administration within bespoke SIPPs account for 50% of the £101.7 billion SIPP market.

Commenting on the results, Ian Hammond, Managing Director at Rowanmoor Pensions said:

“With recent market fluctuations causing a great deal of concern in the pensions industry, people are seizing the opportunity to take control of their own retirement to make their money work as hard as possible. The Rowanmoor Pensions SIPP, one of the top-tier products in the bespoke SIPP market, has become a key vehicle to give people ultimate control over their retirement income. It is also performing very well against our service standards, a set of results that show how our service levels and timescale standards are being met.

“Our strong year end new business results, which are well ahead of the industry’s average growth figures, are testament to the reputation that Rowanmoor Pensions has carved out for the high quality of both its service and products. This is something that underpins everything we do and will continue to do so as we move forward during the current financial year and beyond.”

For further information on Rowanmoor Pensions please visit the website at http://www.rowanmoor.co.uk

- Ends -

For further information, please contact:

Rowanmoor Pensions

Robert Graves
Head of Pensions Technical Services
Rowanmoor Pensions
08445 440 716
robert.graves@rowanmoor.co.uk

Anna Hopkinson
Marketing Manager
Rowanmoor Pensions
08445 440 667
anna.hopkinson@rowanmoor.co.uk

Redleaf Polhill

Sally Walton /James Bishop
020 7566 6750
SW@RedleafPolhill.co.uk
JB@RedleafPolhill.co.uk

About Rowanmoor Pensions

• Rowanmoor Pensions provides and administers member-directed pension schemes:
  • Small Self-Administered Schemes (SSAS)
  • Self-Invested Personal Pensions (SIPP)
  • Family Pension Trusts (also known as Family SIPPs)
• Rowanmoor Pensions is the UKs largest independent SSAS and Family Pension Trust practitioner and administers around 4,000 schemes.
• Rowanmoor Pensions’ SIPP features:
  • personal, portfolio based, administration service;
  • expert support from technical and sales consultancy teams;
  • extensive flexibility and choice at retirement, including scheme pension;
  • widest investment opportunities available in the SIPP market;
  • integrated links to investment partners’ systems;
  • streamlined process for settling adviser fees.
• Rowanmoor Pensions was awarded best SSAS provider in the 2008, 2009, 2010 and 2011 Investment, Life and Pensions Moneyfacts Awards.
• Rowanmoor Pensions was awarded best SSAS provider in the 2006, 2007 and 2008 Pensions Management Technology Administration and Service Awards.

• The Rowanmoor Pensions website is www.rowanmoor.co.uk
• Rowanmoor Pensions currently employs over 200 people.
• Rowanmoor Pensions is a trading name of Rowanmoor Group plc (No. 5792242).
• Rowanmoor Personal Pensions Limited, a subsidiary of Rowanmoor Group plc is the scheme Administrator and scheme operator for schemes established under a Rowanmoor Pensions Family Pension Trust and the Rowanmoor Pensions SIPP and is authorised and regulated by the Financial Services Authority (Register number 458260).

The SIPP Market Today

Source: Association of Member Directed Pension Schemes October 2011

• Total SIPPs: 801,000, total assets £101.7 billion
  • Bespoke SIPPs: Total assets 51.0 billion, average size £286,000
  • Mid-range SIPPs: Total assets £40.4 billion, average size £85,600
  • Simple/Platform SIPPs: Total assets £10.4 billion, average size £67,500