PSI14.2.23 - Transfer Payments: Benefits from Transfer Payments - Calculation of Lump Sum Certifiable - Transfer Received from PPSs and RACs :Finance Act 1989 Regime

(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)

[PN10.29]

If the member is subject to the 1989 regime in the receiving occupational scheme then, except in relation to any amount subject to a NIL certificate, the lump sum element of the transfer from a personal pension scheme or retirement annuity contract may be determined by the rules of the receiving scheme in exactly the same way as in relation to a transfer from another occupational pension scheme (see PSI14.2.20). Thus any certificate other than a NIL certificate may be ignored.

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