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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2018-12-09.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

pension transfer

    a transaction,52 resulting from the decision of a retail client 52who is an individual:125205

      1. (a) to transfer deferred benefits (regardless of when the retail client intends to crystallise such benefits) from:125205
        1. (i) an occupational pension scheme;125205
        1. (ii) an individual pension contract providing fixed or guaranteed benefits that replaced similar benefits under a defined benefits pension scheme; or125205
        1. (iii) (in the cancellation rules (COBS 15)) a stakeholder pension scheme or personal pension scheme,125205
        1. to:125205
        1. (iv) a stakeholder pension scheme; 125205
        1. (v) a personal pension scheme; or125205
        1. (vi) a deferred annuity policy, where the eventual benefits depend on investment performance in the period up to the date when those benefits will come into payment; or125205
        1. (vii) a defined contribution occupational pension scheme; or125205
      1. (b) to require the trustees or manager of a pension scheme to make a transfer payment in respect of any safeguarded benefits with a view to obtaining a right or entitlement to flexible benefits under another pension scheme.125205