PART 2Modifications of Part 4 of the Finance Act 2004

CHAPTER 7Transfers

Transfers from PPA in accordance with PSPJOA 2022 treated as recognised transfersI143

1

Any relevant PPA transfer, to the extent that it would otherwise not be a recognised transfer, is to be treated as a recognised transfer.

2

In paragraph (1) “relevant PPA transfer” means—

a

a transfer of sums or assets held for the purposes of a partnership pension account to a Chapter 1 scheme in accordance with regulations made under section 5(1) of PSPJOA 2022 (election for retrospective provision to apply to opted-out service), or

b

a transfer of sums or assets held for the purposes of a partnership pension account to a judicial scheme for the purposes of complying with section 41 of that Act (requirement to transfer and surrender PPA rights).

3

In this regulation “recognised transfer” has the meaning given by section 169 of FA 2004 (recognised transfers)52.