Providers welcome changes to protected rights for SIPPs

On announcing the changes, Mike O'Brien, minister for pensions reform, said the new rule - which comes in to play from October - would give more flexibility and investment choice to people taking an active interest in the management of their pension fund. "It will also be easier for individuals to transfer funds between different types of pension schemes, and to consolidate pension rights in one place," he said. Existing restrictions preventing SIPPs from holding protected rights are now considered unnecessary following changes which brought all personal pensions - including SIPPs - un...