The joint administrators of PSG SIPP have confirmed that the sale of the Unity SIPP scheme to Pathlines Pensions has been completed.

PSG SIPP went into administration on 25 October 2024, with Adam Stephens and Chris Allen of Evelyn Partners appointed as joint administrators.

Following their appointment, the joint administrators completed the sale of PSG’s SIPP business to Alltrust Services, excluding its Unity SIPP scheme.

The Unity SIPP business has now been transferred to Pathlines Pensions, which was formerly known as London & Colonial until 31 October 2024.

Osborne Clarke LLP acted as legal adviser to the joint administrators on the sale, led by restructuring and insolvency partner, Will Gunston, and financial services regulatory partner, Noline Matemera.

PSG SIPP acted as a scheme administrator operating around 5,500 SIPPs, with a total investment value of around £1.2bn.

Unity SIPP clients will be contacted in the coming days by both the joint administrators and Pathlines Pensions with information about their pensions.

Commenting on the completion of the deal, the joint administrators, Adam Stephens and Chris Allen, said: “We are pleased to have concluded the sale of the Unity SIPP scheme to Pathlines Pensions, which will ensure continuity of service to the clients within the Unity SIPP.”

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