Freedom of choice

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
FCA to crack down on life insurers with 'slower' pension transfer service times

FCA to crack down on life insurers with 'slower' pension transfer service times

Regulator warns slow pension transfers risk harming client outcomes

Isabel Baxter
clock 15 August 2025 • 5 min read
Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read