Relevant changes
Protected Rights have been freed.
The changes are relevant to:
- Anyone who already has a SIPP and has contracted out. Since 1st
October 2008 you have been able to transfer outstanding protected
rights plans into a SIPP, thereby maximising investment choice,
consolidating your pensions and reducing the administrative
burden.
- Those for whom the value of their protected rights pot alone,
or when combined with other personal pensions gathered over the
years, now makes a SIPP a viable option.
- For those seeking greater flexibility, this offers the choice
of taking tax-free cash lump sums, income drawdown or phased
retirement.
- Anyone seeking to maximise their investment flexibility or
looking to appoint someone to manage assets on their behalf.
- Those wishing to consolidate their protected rights into a SIPP
to benefit from economies of scale and therefore reduce
administration costs of their pensions.
- Investors wishing to gain access to Bestinvest's research,
asset allocation and investment advisory skills.
- Anyone wanting access to better performing
funds.