Opra is committed to playing a supportive and educational role to help increase understanding of - and compliance with - the legal duties and responsibilities involved in running occupational pension schemes. We also publish reports about named individual cases under section 103 of the Pensions Act, where we believe that this is appropriate and useful.
The Inland Revenue has published instructions for pension schemes on how to prevent pension scheme liberation. These are contained in the Inland Revenue Pensions Update 132. The Update states that before making a transfer it is the responsibility of the scheme making the transfer to satisfy itself that the proposed recipient of the transfer is a tax-advantaged arrangement.
Full details can be found the Inland Revenue website: www.inlandrevenue.gov.uk
