Suffolk Life will remove fees for protected rights funds from 1 May 2009, it has confirmed.
The firm says it chose to cut fees for protected rights in preparation for changes to the way it administers the funds.
From 1 May, protected rights will not face extra establishment or administrative costs above the regular costs of a Suffolk Life SIPP, the firm says.
In future, both protected rights and non-protected funds will be administered together in a pooled fund, creating a simpler administrative model and reducing costs.
John Moret, head of sales and marketing at Suffolk Life, says: "The record keeping implications for protected rights have remained unclear but it now seems unlikely that there will be any further clarification."
"Consequently we will shortly be prepared to operate protected and non-protected rights on a pooled basis and in recognition of the simpler operational model we have taken the decision to remove the additional establishment and annual administration fees for all new protected rights investments where pooling is adopted."
Existing investors will also benefit from the annual administration fee concessions at their next anniversary.
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