The Government has been criticised for failing to go the "whole hog" on allowing protected rights investment in SIPPs.
Although all registered pension schemes, including SIPPs, will be able to hold protected rights from October, administrators will still need to track protected rights separately from other rights until at least 2012. The failure of the DWP to address this issue and simplify the process now has been described as an “administrative nightmare” and a “nuisance”. Steve Latto, pensions development manager at Alliance Trust Savings, says: “[It is] frustrating that pensions administrators will still need to track protected rights separately. “We are aware that the Government is looking to simpli...
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