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Should I continue my private pensions now I have a Ltd?

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    #41
    Originally posted by adder View Post
    If I set up a SIPP can I transfer any of my 3 existing pensions (from a couple of permie jobs and 1 from an old Ltd company) into this?
    TIA
    Yes you should be able to, with the exception of any protected rights money received if you were/are contracted out of SERPS - that will have to stay in your old plans for now - check with your providers and the new SIPP.
    I may be wrong but I think that rule may be changing for SIPPS this year or next.

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      #42
      Originally posted by moorfield View Post
      Yes you should be able to, with the exception of any protected rights money received if you were/are contracted out of SERPS - that will have to stay in your old plans for now - check with your providers and the new SIPP.
      I may be wrong but I think that rule may be changing for SIPPS this year or next.
      The target date is Oct 2008 which is when they hope to be able to accept Protected Rights into SIPPs but the gov't rarely deliver on time.

      There are a number of pension providers who will allow a transfer of PR into their version of a SIPP but given that the funds are already with a life office this isn't likely to be a good option and is merely, in my opinion, a bit of a marketing ploy.

      Also need to be aware of the funds your currently invested in if you're looking to transfer from ABC pension plan into a SIPP. A lot of the property funds are now exercising their right to defer payment for 6 months (small print).

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