Status: You are viewing the version of the handbook as on 2007-10-31.

pension transfer

    a transaction resulting from a decision made, with or without advice from a firm, by a customer who is an individual, to transfer deferred benefits from:

      1. (a) an occupational pension scheme; or
      1. (b) an individual pension contract providing fixed or guaranteed benefits that replaced similar benefits under a defined benefits pension scheme; or
      1. (c)(in COB 6.7 (Cancellation and withdrawal) a stakeholder pension scheme or a personal pension scheme 5 7 )

    to a stakeholder pension scheme or to a personal pension scheme (including a self-invested personal pension scheme 36 ), or to any deferred annuity policy (including a pension buy-out contract) where the eventual benefits depend in whole or in part on investment performance in the period up to the intended retirement date.20