You can invest in a Suffolk Life MasterSIPP with funds from two fundamentally different sources.  These are non protected rights and protected rights. If you are unsure as to what type of pension fund you have now, your financial adviser will be able to guide you.

Non protected rights
Non protected rights are the contributions, be they regular or lump sums, that you yourself or your employer make into your pension. They may also be from a pension fund that you have decided to transfer into a Suffolk Life MasterSIPP.

The Suffolk Life MasterSIPP allows you to invest in a wide and diverse array of assets of your own choosing, and then allows flexible options when you take benefits. Where applicable tax relief at the basic rate and up to the prescribed HMRC limits are claimed on your behalf by us and higher rate tax payers may reclaim further relief through their annual self assessment.

Protected rights
Protected rights are funds accrued if you are or have been contracted out of the State Second Pension (previously the State Earnings Related Pension Scheme, or SERPS), or a member of a contracted out final salary scheme. Again, if in doubt, consult your adviser.

The Suffolk Life MasterSIPP will only accept transfers of protected rights accrued in another pension scheme, and will not accept contracted out rebates / minimum contributions from the DWP.