Protecting your pensions rights

  • Story by: Gemma Westacott
  • Magazine: FTAdviser
  • Published Friday , June 27, 2008

Finally some good news! And we have a pretty chuffed pensions sector to prove it after the Department for Work and Pensions revealed that Sipps will be able to hold protected rights money from State Second Pensions from October.

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Yes, you read that right - Minister for Pensions Reform Mike O’Brien made the announcement this morning, stating: "These changes will 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."

It didn’t take long for the pensions sector to embrace the change.

Aegon head of pensions development Rachel Vahey was one of the first out of the blocks, saying: "This is a big step forward in making pensions clearer for everyone and will make it easier for people to consolidate funds, if this is the best option for them."

To read the rest of the latest Speakers' Corner blog click here.



It's time to unleash the potential of protected rights

New pensions legislation coming into effect from 1st October heralds greater control, investment choice and flexibility for protected rights. It’s time to unleash their potential writes Andy Pennie.

Click here to find out more

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