Ask Abeceder a question.
Visit the Abeceder shop for our collection of business related books, and audio-visual resources
|
Abeceder Shop transactions are processed by:
The Abeceder Shop accepts:
Abeceder is a member of:
|
|
 |
News Review
The Abeceder press review highlights stories from around the world.
Send Us Your News
If you would like to send us a new item, please complete our online form.
SIPPS can hold protected rights from October - 02-07-2008 |
Minister for Pensions Reform Mike O'Brien has announced that from October investors will have more choice following changes to pensions rules allowing protected rights to be held in Self-Invested Personal Pensions (Sipps).
The DWP has issued its response to the consultation on draft regulations allowing Sipps to hold protected rights.
Mike O'Brien said:
"These changes will give more flexibility and investment choice to people taking an active interest in the management of their pension fund. It will also be easier for individuals to transfer funds between different types of pension schemes, and to consolidate pension rights in one place."
At present, individuals cannot transfer their 'pot' of protected rights into a Sipp. The view had been that rights intended to replace State benefits forgone - by people who contracted out of the State Second Pension - should not be subject to the risk that can arise from self-investment.
However, existing restrictions preventing Sipps from holding protected rights are now considered unnecessary following changes which brought all personal pensions - including Sipps - under the FSA's regulation from April 2007.
| Pensions Consultation
|
View our editorial policy click here.
|
|
|
