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Nest pension transfer in to avoid 1.8%
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Technically, there is no official definition of a SIPP.
@dunstonh - there is, otherwise how would the FSCS be able to apply the following:
However, some types of pension products such as SIPPs are typically deemed ‘uninsured’ pension schemes. These will not be covered in the same way or to the same extent as those deemed ‘contracts of long-term insurance’.
In respect of SIPPs, where FSCS can pay compensation, we will normally cover the pension at 100% with an upper cap of £85,000.
See
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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