The Government has been urged by SIPP provider Alliance Trust to give a timeframe for when protected rights can be included in a SIPP and remove current restrictions on spouse's pensions.
The call comes amid increasing frustration amongst IFAs and their clients who wish to consolidate all their protected rights (pension funds built up from National Insurance rebates when contracting-out of the State Second Pension) into a single self-invested pension arrangement. The Government has announced that protected rights will be transferable to a SIPP but has not released any clear timetable for the change in regulations. Alliance Trust had originally hoped the restrictions would be lifted by 6 April when SIPPs became regulated but this has not proved to be the case. Alliance Tr...
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