RPSM14300050 - Scheme Administrator Pages: Transfers: Receiving a transfer payment in a registered pension scheme: Transfer is from a registered pension scheme - member claims enhanced protection

Transfer is from a registered pension scheme - member claims enhanced protection

It may be that you are administering a money-purchase arrangement and you receive a permitted transfer. If the appropriate limit was not exceeded, enhanced protection has not been lost as a result of the transfer. (Such a transfer, together with the value of any previous benefit crystallisation event under the arrangement will have triggered a relevant benefit accrual where the total value exceeded the appropriate limit.

For the future, the enhanced protection will continue subject to a relevant benefit accrual using the test of payment of a relevant contribution (see RPSM03104510).

You should be aware of those actions that cause the member to lose enhanced protection (see RPSM03104070). If any of these actions are taken, the member

• reverts to primary protection (if they had claimed this) or
• will no longer have protection (see RPSM03104100).