Higher Tax Free Cash Protection on Transfer
Published / Last Updated on 29/04/2018
Video explores the position when you have a higher tax free cash entitlement than 25% from a pension fund and what you can do to protect it when you transfer the pension.
Protecting Higher Tax Free Lump Sums on Transfer by:
Buddy/Bulk/Block Transfer
- You and other scheme members transfer at the same time to the same scheme.
- Must be to the same scheme e.g. 2 X transfers to an XYZ Personal Pension and an XYZ Group Personal Pension are the same scheme
- BUT 2 X transfers to an XYZ Personal Pension and an XYZ Stakeholder Pension are NOT the same scheme
OR
Individual Transfer (on Wind Up) to a Section 32 Buy Out Scheme
