PSI14.3.4 - Transfer Payments: Assignment of Policy to a New Employer - Assignment of Policy With Documents - General

(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)

If, following a change of employment, the scheme rules as well as the policy are assigned to the new employer, a new scheme is established. The approval given to the former employer's scheme does not extend to this new scheme even though the new employer is in effect accepting the former employer's responsibilities (but see PSI14.3.8). We will need the usual application for approval and the case should be handled by the Examiner for the new scheme.

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