PSI14.1.16 - Transfer Payments: General - Block Transfers

(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)

We are often told about these transfer payments when an application for approval of a new scheme or an amendment to the rules of an existing scheme is submitted. If the restructured pension arrangements do not involve a change of employment so that the employees duties remain basically unchanged, benefits may normally be related to total service as if no change had taken place (see also PSI6.5.71-73).

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