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About Protected Rights

In 1988, it became possible for individuals to opt out of the government's additional pension, or SERPS, scheme. This opt out is now known as Protected Rights. Protected Rights are a type of pension fund. The pension fund is built up by money coming in from the government for those of you who, have been in the past or still are, "contracted out" of the State Second Pension, now commonly known as S2P.


Self-Invested Personal Pensions (SIPPs) are subject to the normal rules and regulations for registered pension schemes, but offer the freedom of choice over investment management, whilst keeping the administration in one place. This means you can change your investment manager who looks after your fund when you wish, without incurring the expense of changing the administrator who looks after the day-to-day running of your pension scheme.

Are Your Pension Charges Too High?

In 2001 the UK government introduced stakeholder pensions. The idea was that everyone should have the option of taking out a new personal pension with only a single annual management charge. Initially, this was limited to 1% of your fund value each year, but was increased to 1.5% for the first 10 years of the new plan.

Pensions Tax

Contributions to pension schemes are made net of tax relief. This means you'll only actually contribute an amount of the total contributions paid to the pension. Higher rate taxpayers likewise make contributions net of basic rate tax, but can also then claim additional relief via their Inspector of Taxes/Self Assessment return.

Is One Fund Better Than Another?

It is extremely hard to judge how ‘good’ a pension fund is, because they are all individual and tailored by you. The best pension or investment funds should fit with your own personal exposure to the markets, whether they’re equities, fixed interest or property, amongst others. It’s about how comfortable you feel about investing in certain markets.

Stakeholder Pensions And Personal Pensions

Stakeholder pensions are a low cost, flexible and secure option for people who haven’t set up a pension arrangement yet. The government introduced them in 2001 to encourage people to save for their retirement.

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