Regulation 6 Transfer payments from a personal pension scheme to certain schemes mentioned in Chapter I—additional obligation to hand over a “nil” lump sum certificate where any of the payments originated from such schemesI1
United Kingdom
Subject to paragraph (2), the administrator of a personal pension scheme (“the paying scheme”) from which a transfer payment is made in the circumstances described in paragraph (3) shall, on the making of the payment, give the certificate referred to in paragraph (3)(b) to the administrator of the approved retirement benefits scheme or relevant statutory scheme to which the payment is made (“the receiving scheme”).
Where only one (or some) of the arrangements made by the individual in accordance with the scheme is being transferred, the administrator of the paying scheme shall prepare and sign replacement certificates, each in the amount of nil, in respect of each part of the funds, and shall give the replacement certificate relating to the funds transferred to the administrator of the receiving scheme.
The circumstances described in this paragraph are where the transfer payment is made from the paying scheme to an approved retirement benefits scheme or a relevant statutory scheme and—
the payment or part of the payment had its origin in a transfer payment (“the original payment”) from an approved retirement benefits scheme or relevant statutory scheme, and
the administrator of the paying scheme holds a certificate which was given in relation to the original payment or any other event showing that no amount may be paid out of that payment by way of lump sum to the individual in respect of whom the transfer payment will be made.
Annotations
Commencement
- I1
Reg. 6 in force at 14.2.2001 for specified purposes and 6.4.2001 in so far as not already in force, see reg. 1(1)