Investor take-up of new rules allowing the transfer of protected rights into a SIPP has been encouraging, Fidelity FundsNetwork says.
The fund supermarket says one in five investors in its advised SIPP have transferred their protected rights in the last year, with a further 11% of direct investors following suit. Protected rights are the funds built up by individuals who were ‘contracted out' of SERPS or the State Second Pension. Government restrictions on where protected rights contributions can be invested were lifted in October last year, enabling transfer to SIPPs. "Since the restrictions were lifted last year, we have seen a steady flow of protected rights money come into our SIPP as investors have made the mos...
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