PSI14.1.5 - Transfer Payments: General - Scope of Transferability

(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)

The broad aim is, as far as possible, to allow transfers to take place with the minimum of restriction. So, subject to the exemptions and conditions set out in PSI14.1.6 to 14.1.9 and PSI14.1.26, transfers may be made freely between all of the following tax advantaged arrangements:

[PN10.23(a)]

7. retirement benefits schemes approved under Chapter 1, Part XIV, Income and Corporation Taxes Act 1988 (including FSAVCSs);

[PN10.23(c)]

8. relevant statutory schemes;

[PN10.23(b)]

9. approved personal pension schemes;

[PN10.23(f)]

10. approved retirement annuity contracts;

[PN10.23(d)]

11. deferred annuity contracts securing benefits which have accrued to the individual by virtue of membership of a scheme within a. or b. above;

[PN10.23(e)]

12. old code funds to which section 608 ICTA 88 applies.