PSI14.1.17 - 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)

Block transfers should normally be dealt with by the Examiner responsible for the new scheme. Obtain the files for the schemes involved and check that:

16. the receiving scheme is approved and
17. it has adequate transfer-in provisions (see PSI14.1.25).

If there are any outstanding matters on the former scheme, which are not connected with the block transfer, these should be settled by the examiner dealing with the transferring scheme. In particular, where the transfer is to a Simplified Defined Contribution Scheme any excessive funds should be tackled under the Surplus legislation (see Part 20) before they are transferred out of its scope into the contribution-limited regime.