From: Daytona 
Newsgroups: uk.finance
Subject: Re: Pensions - I know nothing
Date: Fri, 22 Jun 2007 14:27:36 +0100
Bytes: 2751

On Fri, 22 Jun 2007 11:42:17 GMT, nospam@please.invalid (AnthonyL)
wrote:

>What a minefield!  I don't consider myself a stupid person but was
>does the following mean? 
>
>" Prior to these date, pre 5th April 1997 protected rights had to
>increase by the lesser of RPI and 3% p.a. and all benefits post 5th
>April 1997 had to increase by the lesser of RPI and 5% p.a. This means
>that protected rights annuities may be arranged with level payments."
>
>Note I took out my protected rights in 1988? when the government
>offered an incentive to do so.  I have since married.

But presumably it comes *into payment* after 6 April 2005 in which
case the following applies instead - 

"Following changes in the Pensions Act 2004, it is no longer mandatory
to arrange a protected rights annuity with annual increases for
pensions coming into payment after 6 April 2005."

I believe that there is no longer an index linking requirement for
either company or personal protected rights annuities.

>>>I suspect I need to find a reliable IFA.
>>
>>Sign a written contract for fee based advice where all commissions are
>>refunded. Before taking recommendations, double check the advice on
>>here or on 
>>
>
>Still not easy to sniff out a reliable IFA :(

I agree, start a new thread and see if anyone has any ideas.

Daytona