06 July 2010
HM Revenue and Customs has clarified the position relating to
the transfer of rights in payment prior to the age of 55 (see TPAS
news item dated 11th of May 2010).
With the change in normal minimum pension age from 50 to 55 on
the 6th of April 2010 there was a possibility left
within the regulations that a transfer of rights in payment between
schemes could be deemed an unauthorised payment. HM Revenue and
Customs has said that it will issue a new set of regulations to
correct this anomaly:
HMRC Statement
