{
  "url": "https://openlegislation.uk/personal-pension-schemes-transfer-payments-amendment-regulations-1989/note",
  "json_url": "https://openlegislation.uk/personal-pension-schemes-transfer-payments-amendment-regulations-1989/note.json",
  "legislation": "uksi/1989/1115",
  "legislation_title": "The Personal Pension Schemes (Transfer Payments) (Amendment) Regulations 1989",
  "legislation_url": "https://openlegislation.uk/personal-pension-schemes-transfer-payments-amendment-regulations-1989",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations, which come into force on 25th July 1989, amend the Personal Pension Schemes (Transfer Payments) Regulations 1988 (“the Principal Regulations”).\nRegulation 1 provides for citation and commencement and regulation 2 contains a definition.\nRegulation 3 amends regulation 2 of the Principal Regulations by inserting a definition of “relevant statutory scheme” and adding references to certain Northern Ireland provisions.\nRegulation 4 amends regulation 3 of the Principal Regulations which imposes general requirements as to the making of transfer payments.\nRegulation 5 amends regulation 4 of the Principal Regulations which imposes requirements as to the making of transfer payments from one personal pension scheme to another.\nRegulation 6 inserts a new regulation, regulation 4A, in the Principal Regulations which imposes requirements on the making of certain transfer payments from personal pension schemes to retirement benefits schemes or relevant statutory schemes.\nRegulation 7 amends regulation 5 of the Principal Regulations by replacing the reference to a “statutory scheme” with a reference to a “relevant statutory scheme”.\nRegulation 8 amends regulation 6 of the Principal Regulations. Among the amendments made are the substitutions of “a relevant statutory scheme” for “a statutory scheme” (in paragraph (1)(b)), of “£60,000” for “£100,000” (in paragraph (2)(b)) and of the definition of “NS” (in paragraph 3(a)); and the amendment of the definition of “P” in paragraph 3(a).\nRegulation 9 provides for the omission of regulation 7 of the Principal Regulations.\nRegulation 10 amends regulation 8 of the Principal Regulations so as to secure that it applies where transfer payments made from one personal pension scheme to another include funds which had their origin in retirement benefits schemes or statutory schemes.\nRegulation 11 inserts two new regulations, regulations 10 and 11, in the Principal Regulations. Regulation 10 imposes requirements as to the circumstances in which lump sums may be paid to individuals where transfer payments made to personal pension schemes include funds which had their origins in retirement benefits schemes or statutory schemes, and the maximum lump sums that may be paid; and regulation 11 lays down a formula for the calculation of amounts by which lump sums may be enhanced.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1989/1115/note",
    "retrieved_at": "2026-10-29T15:41:31.227511+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}