Suffolk Life has launched a guide explaining protected rights on its website.
The guide, launched in October alongside Suffolk Life’s MasterSIPP, provides a history of protected rights; pension funds built up from National Insurance rebates when contracting-out of the state second pension.
It also gives case studies on where protected rights come from, how to build them up and views on investment strategy.
John Moret, director of sales and marketing at Suffolk Life, says: “For a long time, protected rights and SIPPs were at opposite ends of the spectrum, but as protected rights funds grow and SIPPs become more mainstream advisers should be reviewing the investment strategy they are employing for protected rights – particularly where the client already has a SIPP for their other pension benefits.
“There is no reason for advisers to delay – some may be under a misconception that a legislative change is needed to allow self investment of protected rights but this is not the case.”
A Government consultation paper proposing to allow consumers to self-invest protected rights ends today. Consumers can already invest protected rights in bank deposits or mutual funds such as OEICs and SIPPs run by life companies.
To comment on this story contact:
Tel: 020 7034 2679
E-mail: [email protected]incisivemedia.com
Havensrock Thrive App
Don’t ‘leave it all on the pitch’
21 firms in total
PA360 2019 conference
Latest news and analysis