According to recent reports, millions of people who opted out of second state pension will be provided with greater investment freedom during their retirement, due to a new law coming into force today.
Some 8 million people chose to opt out of the scheme and instead be given national insurance rebates . These were held in vehicles called protected rights funds. The new rule will allow people to transfer protected rights into self-invested personal pensions .
Sipps give access to a range of investments, including unit trusts, equities and commercial property . Financial adviser Killik and Co. reportedly commented: "A lot of people are worried that moving investments in the current market conditions might not be a good idea. But leaving your money in equity-based insurance funds might not be wise either. Through a Sipp you could choose to invest completely in cash, or buy into gilts ."
Greater control for pensions investors
Pensions Quote Line
0845 108 0505
Greater control for pensions investors
Wed, 01 Oct 2008
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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