27 June 2008
Minister for Pensions Reform Mike O'Brien announced today that
Self-Invested Personal Pensions (Sipps) will be able to hold
protected rights funds from this October.
Protected Rights replace the State Additional Pension foregone
where someone has been contracted-out of the State Additional
Pension by way of a company pension scheme and/or a private pension
scheme.
This means that from October, people who have previously
transferred benefits in excess of Protected Rights to a Sipp
leaving their Protected Rights in an insurance contract, may have
the opportunity to transfer these to their Sipp.
