PSI.Part14 - Transfer Payments
(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
Contents
Section 1 - General
Section 2 - Benefits From Transfer Payments
Section 3 - Assignment Of Policy To A New
Employer
Section 4 - Overseas Transfers
Section 1 – General
| PSI14.1.1 | General |
| PSI14.1.2 | Revenue concern |
| PSI14.1.3 | DWP requirements |
| PSI14.1.4 | Amount of transfer value |
| PSI14.1.5 | Scope of transferability |
| PSI14.1.6 | Limitations on transferability |
| PSI14.1.7 | Transfers at or after NRD |
| PSI14.1.8 | Transfers after benefits have come into payment |
| PSI14.1.9 | Transfers on the restructuring of an employer's pension arrangements |
| PSI14.1.10-12 | Fragmentation |
| PSI14.1.14 | Public Sector Transfer Club |
| PSI14.1.15-17 | Block transfers |
| PSI14.1.21 | Scheme rules |
| PSI14.1.22-24 | - transfer-out rule |
| PSI14.1.25 | - transfer-in rule |
| PSI14.1.26 | Transfer payments from schemes seeking approval |
| PSI14.1.27 | - transfers to schemes seeking approval |
| PSI14.1.31 | Transfers in specie from SSAS to PPS |
| PSI14.1.32 | - from PPS to SSAS |
| PSI14.1.33 | Transfers in specie of loanbacks to SSAS |
| PSI14.1.34-35 | Transfers and continued rights |
Section 2 - Benefits From Transfer
Payments
| PSI14.2.1 | General |
| PSI14.2.2 | Transfers from schemes with low NRA |
| PSI14.2.7 | Calculation of benefits in the receiving scheme |
| PSI14.2.8-9 | Transferred benefits on a money purchase basis |
| PSI14.2.10 | - total benefits at NRD |
| PSI14.2.11 | - effect of permitted maximum on transfer payment |
| PSI14.2.12 | - benefits on early retirement |
| PSI14.2.13 | - benefits on late retirement |
| PSI14.2.14 | - lump sum benefit |
| PSI14.2.15 | :transfers from occupational schemes lump sum certificates to be given |
| PSI14.2.16 | - NIL certificates |
| PSI14.2.17-18 | Calculation of lump sum certifiable |
| PSI14.2.19 | - treatment in receiving scheme |
| PSI14.2.20 | - Finance Act 1989 regime |
| PSI14.2.21 | - member with continued rights |
| PSI14.2.22 | - SDCSs |
| PSI14.2.23 | : transfer received from PPSs and RACs Finance Act 1989 regime |
| PSI14.2.24 | : transfer received from PPSs and RACs continued rights |
| PSI14.2.25 | - transfers from buy-out policies |
| PSI14.2.31 | Transfer to PPSs |
| PSI14.2.32 | Transfer of AVC benefits already in payment under income drawdown |
| PSI14.2.37 | Transferred benefits on the added years basis |
| PSI14.2.38 | Lump sum certificate |
| PSI14.2.39 | Benefits for added years |
| PSI14.2.39 | - pre-Finance Act 1989 members |
| PSI14.2.40 | -post-Finance Act 1989 members |
| PSI14.2.42 | - calculation of added years |
| PSI14.2.43 | - permitted maximum |
| PSI14.2.44 | - IR SPSS concern with calculation |
| PSI14.2.46 | - unacceptable augmentation |
| PSI14.2.47 | - pension benefits |
| PSI14.2.48 | - lump sum benefits |
| PSI14.2.49 | : member with continued rights |
| PSI14.2.52 | - subsequent benefits on early retirement |
| PSI14.2.53 | - subsequent benefits on late retirement |
| PSI14.2.54 | Continuous service |
| PSI14.2.55 | Death in service |
| PSI14.2.56 | Pension Sharing on Divorce |
| PSI14.2.57 | Pension Sharing on Divorce |
| PSI14.2.58 | - lump sum certificate |
Section 3 - Assignment Of Policy
To A New Employer
| PSI14.3.1-2 | General |
| PSI14.3.3 | Assignment of policies without documents |
| PSI14.3.4 | Assignment of policy with documents general |
| PSI14.3.5-7 | - individual arrangements |
| PSI14.3.8 | : change of principal employer – employment unchanged |
| PSI14.3.9 | - earmarked schemes |
| PSI14.3.10 | : change of principal employer – employment unchanged |
| PSI14.3.11 | - assignments from unapproved schemes to approved schemes |
| PSI14.3.12 | - continued rights |
Section 4 - Overseas
Transfers
| PSI14.4.1 | General |
| PSI14.4.2 | Transfers out |
| PSI14.4.3 | Transfers in |
