SALE OF REDSWAN’S SIPP AND SSAS BUSINESS TO WESTERBY
On 18 March 2025 Redswan Limited’s SIPP-related business was sold to Westerby Trustee Services Limited (‘WTSL’) and its SSAS-related business was sold to Westerby Pension Administration Limited (“WPAL”).
WTSL and WPAL are part of the Westerby group. Westerby is an established pension provider that specialises in the provision of trusteeship and administration services for SIPPs and SSASs and is authorised and regulated by the Financial Conduct Authority (FCA registration number 463533). You can find out more about Westerby by visiting its website at https://sipp-ssas-pensions.co.uk.
As part of the sale, Redswan’s pension administration team has transferred to Westerby. Therefore, your SIPP or SSAS contact remains the same and they can be reached at the same email address and on the same telephone number.
Further information regarding the sale to Westerby can be found in the FAQs document at this clickable hyperlink.
IMPORTANT INFORMATION FOR SIPP AND SSAS CLIENTS
SIPP CLIENTS
As a result of the sale to Westerby, the Redswan SIPP will be wound up and it is proposed that your SIPP fund under the scheme (‘SIPP Fund’) will be transferred to a new SIPP that will be established for you by Westerby under its self-invested personal pension scheme known as the Westerby Private Pension (a ‘Westerby SIPP’). This transfer will be made without cost to you or your SIPP Fund.
If you are happy for your Redswan SIPP Fund to be transferred to a Westerby SIPP, you do not need to do anything.
If you wish to have your SIPP Fund transferred to a pension arrangement with a different pension provider than Westerby, please let Westerby know this in writing by 5 pm on 18 April 2025 by emailing Westerby’s Onboarding Team at onboarding@westerby.co.uk or by writing to them at: Westerby Trustee Services Limited, The Crescent, King Street, Leicester, LE1 6RX. Westerby will then send you a Transfer Request Form to complete. (Please note that you will not also need to complete and return the Transfer Request Form by the above date and will have a longer period of time in which to do this.)
Important: unless Westerby has received written notification from you that you wish to transfer to a different pension provider than Westerby, by 5 pm on 18 April 2025, as above, your SIPP Fund will be transferred into a Westerby SIPP, and the transfer will be made automatically after that date.
It will not be possible for your SIPP Fund to remain in the Redswan SIPP as the scheme is being wound up.
If you are unsure how transferring to a Westerby SIPP may affect your SIPP Fund, you may wish to seek independent financial advice from an FCA regulated adviser. If you do not have a financial adviser, you can find one using the online service on the website www.unbiased.co.uk.
SSAS CLIENTS
As part of the transfer of Redswan’s business, it is proposed that with effect from 18 April 2025, Westerby will take over responsibility for providing the administration and trustee services in respect of your SSAS. This will involve Westerby acquiring all rights and assuming all obligations under your existing SSAS administration and trustee services agreement with Redswan (‘SSAS Agreement’) that arise after 18 April 2025 (legally known as novation). Redswan will then have no more obligations or liabilities under the SSAS Agreement after that date.
The administration services that are currently provided and are available in respect of your SSAS will not change. Nor will there be any change to the trustee services provided as Redswan Pensioneers Limited will remain a trustee of your SSAS. Ownership of that company has, however, changed as a result of the sale, and the new owner is Westerby (Holdings) Limited.
If you are happy for Westerby to take over responsibility for providing administration and trustee services in respect of your SSAS under your SSAS Agreement, you do not need to do anything.
If you do not wish Westerby to take over responsibility for providing these services in respect of your SSAS, please let Westerby know this in writing by 5pm on 18 April 2025 by emailing Westerby’s Onboarding Team at onboarding@westerby.co.uk or by writing to them at: Westerby Trustee Services Limited, The Crescent, King Street, Leicester, LE1 6RX. Westerby will then contact you regarding the steps involved in transferring your SSAS and its assets to another SSAS provider chosen by you.
Important: Unless Westerby has received written notification from you as above, by 5 pm on 18 April 2025, Westerby will take over responsibility for providing the administration and trustee services in respect of your SSAS by acquiring Redswan’s rights and assuming its obligations under your SSAS Agreement, and that change will take place automatically with effect from 18 April 2025.
If you are unsure how the proposed change may affect your SSAS, you may wish to seek independent financial advice from an FCA regulated adviser. If you do not have a financial adviser, you can find one using the online service on the website www.unbiased.co.uk.
