PTM166700 - Information and administration: information requirements when a member flexibly accesses their benefits: information about flexible access that must be passed between schemes when a transfer is made

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When a transfer is made from a registered pension scheme, a qualifying recognised overseas pension scheme (QROPS) or a former QROPS information must be passed on to the receiving scheme administrator or manager if the transferring scheme has reason to believe the member has flexibly accessed their pension rights.

Transfer from a registered pension scheme
Transfer from a QROPS or former QROPS

Transfer from a registered pension scheme

Regulation 14ZC The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567

A scheme administrator must pass on information when:

  • a recognised transfer is made to another registered pension scheme or to a QROPS, and
  • the scheme administrator has reason to believe that the member has flexibly accessed their pension rights before the transfer.

A scheme administrator could be aware that the member has flexibly accessed their pension rights because the member has flexibly-accessed their pension rights under the scheme, or they have been told by the member, another scheme administrator or a scheme manager that the member has flexibly-accessed their pension.

The transferring scheme administrator must tell the receiving scheme administrator or scheme manager (as the case may be):

  • that they have reason to believe that the member has flexibly-accessed their pension rights before the transfer, and
  • the date on which they understand the member to have first flexibly-accessed their pension rights.

The information must be provided within 31 days beginning with the date of the transfer.

If the scheme administrator wasn’t aware that the member had flexibly accessed their pension when they made the transfer the deadline is 31 days beginning with the date that they first had reason to believe the member had flexibly accessed their pension rights before the transfer.

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Transfer from a QROPS or former QROPS

Regulation 3AC The Pension Schemes (Information Requirements for Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006 - SI 2006/208

A scheme manager must pass on information when

  • a transfer that includes all or part of the member’s relevant transfer fund or UK tax-relieved fund (see PTM113230) is made to a registered pension scheme or to another QROPS,
  • the scheme manager has reason to believe that the member has flexibly accessed their pension rights before the transfer, and
  • at a point when the scheme manager has reason to believe the member has flexibly accessed their pension rights before the transfer, the member is:
  • UK resident, or
  • was UK resident in any one of the five previous tax years.

The scheme manager may be aware that the member has flexibly accessed their pension rights because the member has flexibly accessed their pension rights under the scheme, or they have been told by the member, a scheme administrator or another scheme manager that the member has flexibly-accessed their pension.

The transferring scheme manager must tell the receiving scheme administrator or scheme manager (as the case may be):

  • that they have reason to believe that the member has flexibly-accessed their pension rights before the transfer, and
  • the date on which they understand the member to have first flexibly-accessed their pension rights.

The information must be provided within 91 days beginning with the date of the transfer.

If the scheme administrator was not aware that the member had flexibly accessed their pension when they made the transfer the deadline is 91 days beginning with the date that they first had reason to believe the member had flexibly accessed their pension rights before the transfer.