PSI14.3.9 - Transfer Payments: Assignment of Policy to a New Employer - Assignment of Policy With Documents - Change of Principal Employer - Earmarked 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)

PSI14.3.5-8 deal with assignments from one individual arrangement to another. The same procedure applies where the new employer sets up an earmarked scheme with the employee as the sole initial member. It will not be common for the rules of an earmarked scheme to be assigned with the policy. Such a situation could happen only where the employee was the sole scheme member. In such a case you can accept that the old scheme has automatically terminated. Follow the same procedure as described for individual arrangements when dealing with the new employer's scheme.

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