# The Personal Pension Schemes (Transfer Payments) Regulations 2001, Regulation 12: Application of transfer payments to a personal pension scheme where a “nil” lump sum certificate is held

Extent: E+W+S+N.I.

Where—
(a) a personal pension scheme has accepted a transfer payment in accordance with regulation 7, and
(b) the administrator of the scheme holds a certificate given under any of the certificating requirements with regard to the transfer payment or any other event, showing that no amount is payable out of that payment by way of lump sum to the individual in respect of whom the transfer payment was made on his pension date,
no such lump sum may be paid out of the accumulated value arising from that transfer payment.

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Source: https://www.legislation.gov.uk/uksi/2001/119/regulation/12 (the official version)
Page: https://openlegislation.uk/personal-pension-schemes-transfer-payments-regulations-2001/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.