Revenue Note for Guidance

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Revenue Note for Guidance

787L Transfers to and from PRSA

Revenue may not approve a PRSA product unless it provides for—

  • the assets within it to be transferred to another PRSA product of the contributor or an approved (occupational pension) scheme of which the contributor is a member, or
  • the receipt of contributions from—
    • another PRSA of the contributor,
    • an approved or statutory scheme of which the contributor is a member, or
    • an RAC taken out by the contributor.

The above rights must also apply to a widow, widower, surviving civil partner or dependant of the contributor having accrued rights under the PRSA.

Relevant Date: Finance Act 2019