Rowanmoor Pensions SIPP and SSAS sales have more than quadrupled over the first quarter of 2011/12 compared with the same period last year.

Business figures for the three months to 31 December 2011 are 210% higher than in the same period last year.

The huge increase has been driven by SIPP sales with 413 in the first quarter, up from 133 in same period 12 months ago.

Ian Hammond (pictured), managing director at Rowanmoor Pensions said high SIPP sales reflected consumers’ desire to take their pension provision into their own hands.

‘More and more people are recognising the need to take control of their own retirement as the economy remains gloomy and SIPPs are quite rightly taking a prime position as a product of choice,’ he said.

‘The latest new business figures underline the fact that the Rowanmoor Pensions SIPP has become firmly established as one of the top tier products in the bespoke SIPP market.’