Suffolk Life to cut protected rights fees

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...