PSI14.2.22 - Transfer Payments: Benefits from Transfer Payments - Calculation of Lump Sum Certifiable - SDCSs

(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)

[PN22.20]

A transfer payment received by a Simplified Defined Contribution Scheme does not count towards the 25% of the fund which may be paid in lump sum form (unless the transfer is from a FSAVC scheme in respect of the same service as is pensioned by the SDCS). The lump sum paid in respect of the transfer payment should be limited to the amount certified, increased in proportion to the increase in the Retail Prices Index since the date of transfer.

Contact: | Date issued: | Next review: