Stand-out Q – block transfers


FRI, 23 MAR 2018

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My client has a SIPP under one scheme, of which they’ve been a member for more than 12 months. Can they make a block transfer from another scheme to a new SIPP under the same scheme where they have been a member for more than 12 months?

No, both the existing SIPP and new SIPP would be set up under the same scheme and the legislation states you cannot transfer using the block transfer rules once you have already been a scheme member for more than 12 months. In this context a member includes not only active members, but also deferred members, pensioner members and pension credit members.

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