PSI14.3.11 - Transfer Payments: Assignment of Policy to a New Employer - Assignment of Policy With Documents - Change of Principal Employer - Assignments from Unapproved Schemes to Approved Schemes

(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)

Sometimes an assignment may take place from a scheme which has not received our approval to a new or already existing scheme. If the scheme from which the assignment is being made is to be discontinued then the procedures set out in PSIPart 22 ( PSI22.1.1) should be followed. In principle it is not our policy to accept transfers from an unapproved scheme to an approved scheme. However, in practice the scheme may be awaiting approval because the documentation is under negotiation with Standard Documents Section (see Part 22). If this is the case it is for the Examiner to consider whether or not the scheme is likely to be approved. If there are features in the scheme which the Examiner considers may result in our refusing to approve it then the case should be referred to the Section Manager. The same procedure should be followed for individual arrangements.

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