Mary Stewart assesses who will be the winners and losers in the new Protected Rights landscape
Should the changes to Protected Rights rules from 1st October be given three cheers or a chorus of boos? The answer to this question depends on whether you are a saver, a SIPP provider or an insurer already sitting on many millions of pounds. By allowing Protected Rights to be invested in trust-based SIPPs for the first time, the Government has removed an anomaly and potentially opened the floodgates for a major migration of pension assets. It is estimated that there is as much as £100 billion in Protected Rights cash with some individuals sitting on pots worth £50,000 or more. These sums...
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