Status: You are viewing the version of the handbook as on 2009-03-31.

pension transfer

    a transaction,52 resulting from the decision of a retail client 52who is an individual, to transfer deferred benefits from:

      1. (a) an occupational pension scheme; 52
      1. (b) an52 individual pension contract52 providing fixed or guaranteed benefits that replaced similar benefits under a defined benefits pension scheme; or
      1. (c)52(in the cancellation rules (COBS 15))52 a stakeholder pension scheme or 52 personal pension scheme 5 7 52,52

    to:52

      1. (d) a stakeholder pension scheme; 52
      1. (e) a personal pension scheme; or52
      1. (f) a deferred annuity policy,61 where the eventual benefits depend on investment performance in the period up to the 61date when those benefits will come into payment.6152