Protecting SIPP rights

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Michael Smith gives the lowdown on investing protected rights funds in SIPPs

After much anticipation, on 29th July 2008 regulations were set by the Department of Work and Pensions (DWP) allowing self-invested personal pensions (SIPPs) to hold protected rights (PR) from 1st October 2008. 'Protected rights' are funds built up in money purchase pension schemes from National Insurance rebates when an individual has contracted-out of the State Second Pension (S2P, formerly called Serps). The DWP consultation response of 27th June 2008 discussing this change can be viewed at www.dwp.gov.uk/publications/dwp/2007/occ-pen-consult/govt-resp-ppsaspraregs08.pdf. The chang...

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