Negotiations over a £41m offer for SIPP and pensions provider STM Group have been extended for a second time.

The FCA has written to investment platforms and SIPP providers to ask them to disclose how much of the interest they receive from cash and bank deposits they pass on to their customers. 

John Moret is one of the UK's leading pensions and SIPP experts and commentators. As he enters his 75th year, still working part-time in the sector, he continues his series of articles for Financial Planning Today looking back at the changes that have shaped the pensions sector during his career. In this third article in the series he looks at the rise of income drawdown and what changes may lie ahead.

SIPP and pensions provider STM Group has agreed in principle to a £41m takeover bid from Guernsey-based investment vehicle PSF Capital GP II Limited, better known as Pension SuperFund Capital.