Transfers

The rules for SIPP transfers are exactly the same as those for personal pensions, meaning that it is generally possible for a member of a SIPP to transfer their benefits to any occupational pension scheme they join, a personal or stakeholder pension, an FSAVC (if this is active) or indeed another SIPP.

SIPPs can accept transfers from the following types of UK pension plan:

• Personal or stakeholder pension plans
• Retirement annuity contracts
• Occupational pension schemes (including EPPs and SSASs)
• Statutory schemes (public sector schemes)
• AVCs and FSAVCs (subject to the terms and conditions of the AVC/FSAVC scheme)
• Section 32 Buy-out plans
• Pension Credit monies from a divorce.

A SIPP can also accept a transfer from an overseas pension arrangement although this does depend on the specifics of the situation.

Since 1 October 2008, it has been possible to transfer Protected Rights funds into a SIPP.  Protected Rights is the name given to the fund accumulated from National Insurance rebates whilst contracted out of the State Additional Pension.

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