Where a member's lump sum rights in a registered pension scheme
qualify for scheme specific protection of a lump sum of more than
25% the member can retain that protection on transferring those
rights out of that scheme, but only if the transfer is part of a
block transfer to a registered pension scheme.
You will usually know if the transfer coming into your scheme
is part of a block transfer. If the transfer is made in any other
circumstances, the lump sum rights are not protected in your
scheme. Once you have received the transfer, the member's lump sum
entitlement will be limited according to the rules of your
scheme.
| Glossary ( RPSM20000000) |
