Former Protected Rights

BobandHoney

Looking for simple advice please, I have a Prudential Pension and just received my statement.
i have two amounts one Quote "excluding Former protected rights " and one Quote "Former protected rights"

The Former one being considerably less

which one do I get ??

what does it simply mean

thanks

Aegis

You should get both. Your are recieving quotes fro two elements of your pension, the main amount (excluding former protected rights) and an amount in respect of opting out of an additional state pension at some point in the past, whether consciously or by being in a pension scheme that did this for you automatically. These days there are basically no differences between the elements, but in the past your Protected Rights had to be segregated out and were subject to some additional restrictions.

BobandHoney

brilliant so I will get both amounts
I have a personal pension and I opted out, after advice from Pru, of SEPS.
so I can use both amounts to give a total
thks

dunstonh

and an amount in respect of opting out of an additional state pension at some point in the past,

<pedantic mode on>
Slapped wrist there Aegis.
<pedantic mode off>

I have a personal pension and I opted out, after advice from Pru, of SEPS.

from contracting out, yes you do. And both are available. Indeed, if you moved the pension to another, they would combine them. Its just legacy computer systems with old plans that still shows them separately.