James Hay to take protected rights from 1 October

This includes the James Hay eSIPP, James Hay Select SIPP, James Hay Private Client SIPP and James Hay Wrap SIPP. Historically, SIPPs have not been permitted to contract out and could not hold protected rights funds with most of this money currently being held in insured plans. However, from 1 October 2008, new regulation allows individuals to hold all of their pension funds under one SIPP and self-invest both protected and non-protected rights. Andy Pennie, marketing director at James Hay, comments: "Previous protected rights solutions through life offices were often very restrictive ...