UK Statutory Instrument SI 2001/119 United Kingdom

The Personal Pension Schemes (Transfer Payments) Regulations 2001

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person3 Director or Officer1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.007 Basic obligation Regulated
  • Personal pension schemes – only accept transfer payments from approved sourcesAny Person
s.008 Prohibition of acceptance of certain transfer payments from certain schemes mentioned in Chapter I unless the administrator has obtained a certificate as to the value of the proposed transfer payment Regulated
  • Do not accept transfer payments from certain pension schemes without a certificate of valueDirector or Officer
s.009 Basic obligations Regulated
  • Use transfer payments only for permitted benefits or further transfersAny Person
s.010 Application of transfer payments to a personal pension scheme from or originating from certain schemes mentioned in Chapter I for the provision of “death benefits” Regulated
  • Apply transfer payments after death only to spouse/dependant benefitsAny Person
11 other provisions — procedural and definitional
s.001 Citation, commencement and effect
s.002 Interpretation
s.003 Requirements under section 638(2) of the
s.004 Basic obligations
s.005 Transfer payments from one personal pension scheme to another—additional obligation to hand over a lump sum certificate where any of the payments originated from certain schemes mentioned in Chapter I
s.006 Transfer payments from a personal pension scheme to certain schemes mentioned in Chapter I—additional obligation to hand over a “nil” lump sum certificate where any of the payments originated from such schemes
s.011 Application of transfer payments to a personal pension scheme from or originating from certain schemes mentioned in Chapter I for the provision of lump sums to the member
s.012 Application of transfer payments to a personal pension scheme where a “nil” lump sum certificate is held
s.013 Obligations where there is a pension sharing order or provision
s.014 Exceptions to section 638(7A) of the Taxes Act
s.015 Revocations and transitional provision

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.