SIPPcentre takes Protected Rights next month

by Richard Allum on 23 April 2008

One of my favourite SIPP providers is SIPPcentre and they have today announced that they will accept Protected Rights transfers from 12 May.  They have produced a briefing document which you can download here.  As the DWP still only permits Protected Rights within a SIPP to be held in cash until October, the funds will be held within a segregated account with Bank of Scotland until the law changes when they will be merged with the main SIPP.  No additional charges will apply other than the standard £60 transfer in fee.

This is a clever move by SIPPcentre and follows hot on the heels of Suffolk Life who launched a similar facility earlier in the year.  By securing the funds now they have a head start on other providers who will be competing for what could be a lot of business from October.

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