{
  "url": "https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014/note",
  "json_url": "https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014/note.json",
  "legislation": "uksi/2014/1449",
  "legislation_title": "The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/registered-pension-schemes-transfer-of-sums-and-assets-amendment-regulations-2014",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Registered Pension Schemes (Transfer of Sums and Assets) Regulations 2006 (S.I. 2006/499) (the “Transfer Regulations”).\nRegulation 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.\nRegulation 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.\nThe 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.\nA Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/1449/note",
    "retrieved_at": "2026-10-29T00:14:12.077877+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."
}