Evelyn Partners completes sale of Unity SIPP to Pathlines Pensions

Evelyn Partners has completed the sale of the Unity SIPP business to Pathlines Pensions, formerly London and Colonial. 

Adam Stephens and Chris Allen of Evelyn Partners LLP were appointed as Joint Administrators of PSG SIPP Limited (PSGS) on 25 October 2024, pursuant to an application made under Paragraph 22 of Schedule B1 of the Insolvency Act 1986. 

Immediately following their appointment, the joint administrators completed the sale of PSG’s Self-Invested Personal Pension (SIPP) business, excluding its Unity SIPP scheme, to Alltrust Services Limited (Alltrust).  

Simultaneous with the sale to Alltrust the Joint Administrators exchanged contracts with London and Colonial Services Limited (London and Colonial) for a transfer of PSGS’ Unity SIPP business.   

On 31 October 2024, London and Colonial changed its name to Pathlines Pensions UK Limited (Pathlines Pensions). 

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

Regarding the sale, Stephens and 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.”