RPSM02104020 - Technical pages: Registering a pension scheme with HMRC: deferred annuity contracts (buyout policies, section 32 contracts and assigned policies): What is an assigned policy?

What is an assigned policy?

As an alternative to the purchase of deferred annuity contracts (see RPSM02104010), any individual policy or policies already held under a registered pension scheme which are earmarked for the provision of a particular member's benefits under the scheme - including an annuity provision - may be assigned to the member. These are also deferred annuity contracts.