RPSM03104092 - Technical Pages:
Protecting pension rights from tax charges: Enhanced protection:
Cessation: Transfers that are not permitted transfers
Transfers that are not permitted transfers and will trigger
loss of enhanced protection
Any transfer that is not a permitted transfer will automatically
cause loss of enhanced protection from the date of the transfer.
RPSM03104090 describes what
conditions have to be met for a transfer to be a permitted
transfer. The following are examples of transfers that are not
permitted transfers that will trigger loss of enhanced
protection.
- A transfer from an
other money purchase arrangement to a defined
benefits or
cash balance arrangement.
- A transfer from a cash balance or
defined benefits arrangement to a cash balance or
defined benefits arrangements where the transfer is not made in
connection with the winding up of the transferring scheme, a
relevant business transfer or a retirement-benefit activities
compliance exercise.
- A transfer from a cash balance or defined
benefits arrangement to a cash balance or defined benefits
arrangement relating to a different employment to the transferring
arrangement - except where there has been a relevant business
transfer as described in
RPSM03104091.
