Changes to Qrops UK Pension Transfer legislation

[teamplayer2003]

Hey All,


just a quick update that the HMRC are looking to make some rather strict changes to UK pension transfers.


The draft legislation is available at http://www.hmrc.gov.uk/pensionscheme...ance-qrops.pdf


The ISI have responded to the imposed legislation, with recommended changes located at the following link


http://www.asfonz.org.nz/assets/Subm...Submission.pdf


We should know what will be enforced in the coming weeks, but one thing is clear, the ability to take 100% of your pension as a lump sum for unprotected rights transfers will be restricted.


Note the very short time from on the initial draft sees this coming into force on the 6th of April 2012.


I hope this information is helpful


Tim

[Tia Maria]

Thanks for the heads up, will check it out