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