UK Statutory Instrument SI 2021/1237 United Kingdom

The Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Trustee5

Other Acts binding the same actors

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

Trustee — also bound by 104 other Acts
Charities Act 2011 27 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.005 Requirement to inform the member of the conditions and notify decisions regarding satisfaction of the conditions Regulated
  • Inform members about transfer conditions and notify them of your decisionTrustee
s.006 Standards of proof, relevant evidence or information, and timing for decisions regarding satisfaction of the conditions Regulated
  • Apply correct standards of proof and timing for pension transfer decisionsTrustee
s.007 The First Condition: transfers into certain receiving schemes Regulated
  • Verify receiving scheme type before transferring pension benefitsTrustee
s.009 The Second Condition: requirement to take specified guidance Regulated
  • Require member to take scam guidance when amber flags are presentTrustee
s.010 The Second Condition: requirements on trustees or managers of the transferring scheme to request evidence or information Regulated
  • Request evidence from the member before transferring their pensionTrustee
7 other provisions — procedural and definitional
s.001 Citation, commencement, extent and interpretation
s.002 Application of the conditions to all uses of the cash equivalent
s.003 Transfers to which these Regulations apply
s.004 Conditions satisfied upon a decision by the trustees or managers of the transferring scheme
s.008 The Second Condition: transfers into all other receiving schemes
s.011 The Second Condition: transfers into an occupational pension scheme and the employment link
s.012 The Second Condition: transfers into a QROPS and the residency link

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