Terminating a simplified pension plan (SIPP)
Who can terminate a plan?
The financial institution that administers the plan has the power to terminate it.
An employer may decide to stop participating in an SIPP, which is a case of withdrawal of an employer.
How is a plan terminated?
Once the decision has been made, the members and the employer are informed. The financial institution must then carry out several tasks to liquidate the pension fund. Certain aspects of the termination are of particular concern to the members.