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Harsant Pensions SIPP Accepting Protected Rights Benefits from October 2008


The UK government has announced that Self Invested Personal Pension Funds (SIPPs) can hold protected rights benefits from State Second Pensions from October 2008.

Protected rights, which are benefits derived entirely from the rebate of National Insurance contributions payable when someone opts out of the State Second Pensions, cannot currently be paid into a SIPPs pensions. This is because the Department of Work and Pensions (DWP) has considered that protected right should not be subject to the risk that can arise from self investment.

The DWP said existing restrictions preventing SIPPs holding protected rights are now considered unnecessary following changes which brought all personal pensions – including SIPPs – under the Financial Services Authority’s (FSA) regulation from April 2007.

Mike O’Brien, of the DWP said “These changes will give more flexibility and investment choice to people taking an active interest in the management of their pension fund.”

Director of Harsant Pensions, Christine Brown, commented “we welcome the proposal as the Harsant SIPP is an excellent vehicle for pooling funds from different types of pension schemes and allowing a wide range of investment opportunities permitted by SIPP s including cash, stocks and shares, trustee investment plans and bonds, units in authorised trust scheme, shares in an open ended investment company and commercial property.

So often there will be a percentage of each transferring fund which contains protected rights. Currently this element must be left in an insured policy, defeating the objective of consolidating pension rights in one place.”

For more information on the Harsant SIPP and transferring protected rights visit or phone 0151 648 7615.


 SIPP Pensions
 Pension Advisors
 Pension Schemes
 Protected Rights Benefits

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