Split pension transfers to keep protection

In the latest edition of its pension simplification newsletter, HMRC has also clarified the A-Day rules surrounding payments to members under the age of 55, and where the assignment of death benefits under a term assurance policy does not count as an unauthorised payment. The extra guidance and examples, which will be incorporated into the Registered Pension Scheme Manual (RPSM), have been published almost four months after A-Day, and just a week after HMRC had to issue amendments to legislation to close a potential loophole. Rachel Vahey, head of pensions development at Scottish Equi...