Protected Rights and Contracting Out
We can accept Protected Rights within the following pre- and post-retirement products. Note the government has announced with effect from 6 April 2012, the rules on the type of annuity you can purchase with Protected Rights funds will no longer apply.
Pru Flexible Retirement Plan (FRP)
Protected Rights can be held under a client's FRP, in both the personal pension and income drawdown plans. This means one solution for all your client's pension pots, providing:
- Simplicity for the client
- Less initial sale and review work for you as you only have one plan to set-up and manage
- Help with the transfer process with our Transfer Desk
- AMC discounts for consolidation of funds. This means your clients could pay lower AMCs if they consolidate their Protected Rights into the FRP. Find out more about our AMC discounts.
- Consistency of investment choice for your client's Protected Rights and non-Protected Rights funds under the FRP*
- Protected Rights funds can be used to increase a client's borrowing power for commercial property purchase. Clients can borrow an amount up to 50% of the net value of their FRP, including Protected Rights
*Note Protected Rights funds cannot currently be invested in the Self Invested Fund
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