Govt to keep spouses pension for protected rights

The insurer says details of the latest amendments to the Pensions Bill were published on 31 May, inserting a new clause 27A into the Pension Schemes Act 1993 – which is the principal legislation dealing with protected rights. According to Standard Life the clause requires members who are married or in a civil partnership to still buy a 50% spouse/partner pension with their protected rights pot, even after money purchase contracting-out is abolished in 2012. It says this means people will not be able to combine their pension pots to buy one annuity - leading to two annuity administration...