It's a tricky subject, so we've summarised the conditions where tax-free cash of more than 25% will survive a transfer and set out the answers to some of the more common questions we receive.
There are two main types of transfer where tax-free cash of more than 25% would be protected - a block transfer and a transfer where the scheme is being wound-up. The conditions that must be met are as follows.
Block (or buddy) transfer
Wind-up transfer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.