Skip main navigation

Barclays uses cookies on this website. They help us to know a little bit about how you use our website, which improves the browsing experience– both for you and for others. They are stored locally on your computer or mobile device. To accept cookies, continue to use the website. Alternatively, go to the cookies policy for more information on how to disable cookies.

Question

Can I continue to contract out of S2P using the Barclays Stockbrokers SIPP?

Answer

No, we can only accept a transfer of existing Protected Rights funds - the Barclays Stockbrokers SIPP cannot accept "minimum contributions" from HM Revenue & Customs (HMRC) to enable you to contract out of the State Second Pension (S2P) on an ongoing basis.

By transferring your contracted-out (Protected Rights) funds into a SIPP, you will automatically be contracted back in to S2P (as the pension plan through which you were contracted out no longer exists).

 

How helpful was this answer?

Not at all Very helpful