Pension Schemes - Frequently Asked Questions

Overseas Transfers

Q I was not a controlling director of my former UK employer, but am a controlling director of my present overseas company. Does this make the transfer reportable?

A. No. The definition of controlling director relates solely to your status with your former UK employer.

Q My former UK employer has gone bust, so I cannot obtain payroll records or a duplicate P45 from them to show that I have left.

A. It should be possible to obtain an extract from the register at Companies House to show that the employer no longer exists. This would be acceptable.

Q I want to transfer my benefits to my plan overseas. The pension provider/UK employer referred me to your office. Can you tell me what I have to do?

A. You should refer back to your employer or pension provider, as it is their responsibility to satisfy themselves that our requirements are satisfied. These requirements are fully set out in our published guidance, but we are happy to clarify any points for them.

If you wish to see what those requirements are, they can be viewed on the Internet as follows:

  • access the Inland Revenue website at www.inlandrevenue.gov.uk
  • click on 'Leaflets and Booklets'.
  • click on 'Pension Schemes'.
  • for transfers from personal pension schemes, refer to Appendix 22 of the Guidance Notes IR76 (2000).
  • for transfers from company pension schemes, refer to Appendix VI of the Guidance Notes IR12 (2001).

 

 

Q I am receiving requests for transfers where my client is either retired or not in employment. Can you confirm that a transfer is not permissible in such cases?

A. Our published practice clearly states that transfers may not be made where our requirements are not satisfied.

 

 

Q My client left the UK a long time ago and is unable to supply payroll records/P45 or cessation accounts evidencing that he/she severed his/her UK employment and/or self-employment links completely. Is any other information acceptable as evidence that this condition has been satisfied?

A. Where it is not possible for UK scheme administrators or trustees to obtain this information, in accordance with Appendix VI to IR12 or Appendix 22 to IR76, they can accept evidence of the termination of the transferee's UK National Insurance Contributions instead. The transferee would need to obtain from the UK National Insurance contributions Office, a Statement of Contributions, showing when the last employee or self-employed contributions were paid by them. They should write to:

Inland Revenue National Insurance Contributions Office
International Services
Room BP 1302
Longbenton
Newcastle upon Tyne
NE98 1ZZ

When writing, transferees will need to quote their full name and their National Insurance number or date of birth. They should ask for a Statement of Contributions in relation to their UK employment and self-employment. In addition, if they notified the National Insurance Contributions Office that they were leaving the UK, they should ask for confirmation of their "date of departure". UK scheme administrators and trustees will need to satisfy themselves that such information corroborates the transferee's statement (in requisite form) that their UK employment and/or self employment links have been severed completely. Transferees should not be advised to write to the National Insurance Contributions Office unless it has proved impossible to obtain the evidence specified in the Appendices referred to above.

   
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