PSI14.1.21 - Transfer Payments: General - Scheme Rules

(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)

Scheme rules normally contain express provisions permitting the making or receipt of transfers. However paragraph 18 Schedule 1A of the Social Security Act 1975 as introduced by the Social Security Pensions Act 1985 gives most early leavers the statutory right to a transfer of their accrued benefits (except on winding-up) even where the scheme rules do not contain transfer provisions or indeed contain provisions to the contrary (see PSI14.1.3).