....to pay closure costs.

Savers could be hit with higher charges for investing their own personal pension as a result of FSA measures to reduce the risk of consumers being harmed should a provider fail. Self-Invested Personal Pension (Sipp) providers will over the next few years be required to increase the amount of capital they hold so they have enough to pay for the transfer their clients' assets to a new home in the event the administering company winds down. It has been said that the move, being taken to ensure customers' investments are not touched during the wind down process, could see Sipp providers forced to increase their reserves ten-fold on average, a figure which could see some firms run into the ground......Read more here