Guidance

Occupational pensions: Bulk transfers without consent of money purchase benefits without guarantees

This guidance helps trustees comply with new regulations from April 2018 covering bulk transfers of money purchase rights that do not include guarantees.

Documents

Bulk transfers without consent: money purchase benefits without guarantees – Guidance for trustees

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Details

This guidance supports the amendments to regulation 12 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 (“the Preservation Regulations 1991”), effective from 6 April 2018.

The Occupational Pension Schemes (Preservation of Benefit and Charges and Governance) (Amendment) Regulations 2018 made the amendments to the 1991 regulations.

The amendments, in new regulations 12(1B) and 12(7) to (10), change the conditions that apply to the bulk transfer of certain money purchase rights of members of occupational pension schemes.

We published this guidance following a consultation on the new regulations that ran from 26 October 2017 to 30 November 2017.

Published 30 April 2018