RPSM14301060 - Scheme Administrator Pages:
Transfers: Making a transfer from a registered pension scheme:
Receiving scheme is an insured scheme
Receiving scheme is an insured scheme
If the receiving scheme is an insured scheme, you should make
the transfer payment directly to either
- the
scheme administrator of that scheme, or
- an
insurance company issuing policies under the
receiving scheme.
You, as scheme administrator, are liable to a penalty of up to
£3,000 if this condition is not met.
