News
Protected Rights to be abolished from 6 April 2012
From 6 April 2012 it will no longer be necessary for money purchase pension schemes to recognise Protected Rights funds as separate benefits, therefore in the future all funds will be consolidated and treated in the same way.
- S2P clients who were previously contracted-out will no longer have any rebates paid into their pension plan by the Government.
- All funds built up within money purchase pension arrangements will be payable on retirement in the same way without any of the restrictions previously applying to Protected Rights annuities.
- Clients currently considering buying anannuity with Protected Rights funds may wish to delay until the changes come into effect as consolidating all pension savings could result in higher annuity rates and a wider choice of annuities.
- Death benefit can in the future be payable as a lump sum.
Why not contact us for further details on 01372 844344 or email at .(JavaScript must be enabled to view this email address)
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