Status: You are viewing the version of the handbook as on 2019-09-14.

pension transfer

    a transaction,52 resulting from the decision of a retail client 52who is an individual:125194

      1. (a) to transfer deferred benefits (regardless of when the retail client intends to crystallise such benefits) from:125194
        1. (i) an occupational pension scheme;125194
        1. (ii) an individual pension contract providing fixed or guaranteed benefits that replaced similar benefits under a defined benefits pension scheme; or125194
        1. (iii) (in the cancellation rules (COBS 15)) a stakeholder pension scheme or personal pension scheme,125194
        1. to:125194
        1. (iv) a stakeholder pension scheme; 125194
        1. (v) a personal pension scheme; or125194
        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; or125194
        1. (vii) a defined contribution occupational pension scheme; or125194
      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.125194