Protected Rights

If you have contracted out of the State Earnings Related Pension Scheme (SERPS) or State Second Pension (S2P), you will have built up a Protected Rights fund. If you wish, you can choose to take the Pension Commencement Lump Sum from this money but you must then purchase a Protected Rights annuity with the remaining cash.

If purchased with a Partnership Pension Annuity, we will wrap the two together so you will receive one income payment, payable for the rest of your life.