Regulation 27 Inward transfers

Regulation J8 of the principal Regulations is amended–

(a)

by inserting in paragraph (1)–

(i)

after the words “a personal pension scheme” the words “a retirement annuity contract,”;

(ii)

after the words “appropriate policies” the words “but excluding rights to benefits arising out of an additional voluntary contributions provision or an additional voluntary contributions scheme unless the payments securing such rights under that provision or scheme began before 8th April 1987”;

(b)

by inserting in paragraphs (1)(a) and (b) after the words “personal pension scheme” the words “retirement annuity contract”;

(c)

by inserting in paragraph (6) at the beginning the words “Subject to paragraph (7)”; and

(d)

by inserting after paragraph (6) the following paragraph:–

“(7)

Paragraph (6) does not apply to a transfer value offered by the scheme managers of a club scheme.”.