Freedom of choice

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Mike Morrison assesses the impact protected rights legislation will have on the SSAS market

One of the most eagerly awaited pieces of pension legislation in 2008 is likely to be the Personal Pension Schemes ((Appropriate Schemes) (Protected Rights) (Amendment)) Regulations 2008. The regulations are likely to be made by the department of work and pensions in July 2008 with a view to coming into effect on 1 October 2008 and will finally allow SIPPs to accept protected rights funds. So, let's just have a quick recap on protected rights. Prior to 1988, contracting out of state earnings related pension scheme (SERPS) was only possible at scheme level, hence the existence of contrac...

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