# The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014

S.I. 2014/1449 · made 4 June 2014

These Regulations amend the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006 (S.I. 2006/499) (the “Transfer Regulations”).

Made under: Finance Act 2004 (Section 169, Section 282)

PDFs: Printed copy https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014/pdf/uksi_20141449_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014/pdf/uksiem_20141449_en.pdf

## Introductory text

Income Tax
Made 4th June 2014
Laid before the House of Commons 6th June 2014
Coming into force 1st July 2014
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 169(1B) of the Finance Act 2004 and now exercisable by them, and section 282(A1) of that Act.

## 1 Citation, commencement and effect

(1) These Regulations may be cited as the Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014 and come into force on 1st July 2014.
(2) These Regulations have effect in respect of transfers made on or after 6th April 2014.

## 2 Amendment of the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006

(1) Regulation 4 (scheme pension payable by insurance company) of the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006 is amended as follows.
(2) In table 1 (prescribed purposes – scheme pensions) insert at the end—
“
Paragraph 20(2), (3) and (5) of Schedule 36 (pre-commencement pensions)
To determine—
(i) whether an individual has pre-commencement pension rights,
(ii) whether an individual has a relevant existing pension.
”

## Signature

Jim Harra
Simon Bowles
Two of the Commissioners for Her Majesty’s Revenue and Customs
4th June 2014

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006 (S.I. 2006/499) (the “Transfer Regulations”).
Regulation 1(2) provides that the new entry inserted by regulation 2 applies to transfers made on or after 6th April 2014. Power to make legislation with retrospective effect is contained in section 282(A1) of the Finance Act 2004 (c. 12), which allows regulations made under Part 4 of that Act (which includes section 169(1B)) to include provision having effect in relation to times before they are made, if that provision does not increase any person’s liability to tax.
Regulation 2 inserts a new entry into table 1 in regulation 4 of the Transfer Regulations. Regulations 3 and 4 of the Transfer Regulations provide that where there has been a transfer of pension sums or assets to a new scheme pension, that new scheme pension is to be treated as if it were the original scheme pension for those purposes of Part 4 of the Finance Act 2004 prescribed in table 1.
The new entry in table 1 clarifies the application of paragraph 20(2), (3) and (5) of Schedule 36 to the Finance Act 2004 in those cases in which there has been a transfer of pension sums or assets between 6 April 2006 and the date of the first benefit crystallisation event.
A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm.

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Source: https://www.legislation.gov.uk/uksi/2014/1449 (the official version)
Page: https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.