Protected Rights SIPP Trouble

Protected Rights SIPP Trouble

The Government’s dual announcements on protected rights have been criticised for adding further layers of complexity for self-invested personal pension (Sipp) providers.  Though the industry has widely welcomed the confirmation that Sipps will be able to accept protected rights monies from 1 October and the abolition of the requirement for protected rights to provide a survivor’s benefit from 2012, the time difference between the two is predicted to present problems.

Pension companies have expressed concern at yet another layer of complexity in building systems to be able to cope with two different sets of rules with a SIPP, one set of rules for normal pension funds and another set of rules for Protected Rights inside the SIPP

Useful links:

Learn more about Protected Rights and related topics in the Pensions Adviser Channel 

Request expert financial advice now

Purchase guidance on financial planning in the Money Shop 

Back to News Summary

Useful links: