PSI14.2.19 - Transfer Payments: Benefits from Transfer Payments - Calculation of Lump Sum Certifiable - Treatment in Receiving Scheme

(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 treatment of a certified lump sum in the receiving occupational pension scheme depends upon whether the member is subject to benefits on the post-Finance Act 1989 basis (see PSI14.2.20) or whether he or she is entitled to continued rights in the new scheme (see PSI14.2.21). Most incoming members of schemes will be in the former category, together with any other members who opt or elect for the post-Finance Act 1989 basis of benefit provision (see PSI9.1.11).