Your questions answered

Does my client need to complete separate application forms if ordinary pension and protected rights benefits are to be transferred in?
Only one application form is required for the protected rights and ordinary pension benefits. For subsequent transfers in, your client will need to complete a transfer in application form. Protected rights transfers in also require the completion of the relevant NICO form.

Do I need to complete separate investment manager agreements?
Yes, there are separate agreements for protected rights and ordinary pension benefits, as these investments are held by different companies. It is, however, possible to pool assets to purchase property.

Do I need separate fee/commission agreements for the ordinary and protected rights elements of the MasterSIPP?
No, any commission agreement completed on the application form will cover all the elements of the Suffolk Life MasterSIPP. If you require separate agreements for the ordinary and protected rights benefits, we will need a letter confirming the details, signed by your client.

Will my client receive separate annual statements for ordinary pension and protected rights benefits?
The elements are separated in the documentation but will show on one annual statement.

Can my client contract out of the State Second Pension (S2P) through Suffolk Life?
No, the Suffolk Life MasterSIPP does not allow investors to contract out of S2P. Your client will therefore need to either be contracted into S2P or contracted out with an alternative provider.

My client already holds a Suffolk Life SIPP. Can they be a member of the this scheme and the Suffolk Life MasterSIPP at the same time?
Yes, it is fine to be an investor in both schemes. The combined funds can be pooled for property purchase.

Can I view my clients’ Suffolk Life MasterSIPP details on the web portal?
Yes, plan details are available to view online.