Hogan Lovells

Key Dates

Determination issued 27 June 2017


The scheme provider's failure to carry out sufficient checks before authorising a transfer resulted in an unauthorised member transfer charge.


The member complained that the provider had authorised a transfer of funds into a scheme which had lost its staus as a Qualifying Recognised Overseas Pension Scheme (QROPS). As a result, the member had to pay a tax charge.


If the provider had acted with due diligence (for example, investigating why the scheme was not on the HMRC list), it would have recognised that the scheme was no longer a QROPS and would not have allowed the transfer.

The provider was directed to refund the member the amount of the tax charge, and awarded £1,000 for significant distress and inconvenience.

Date Accessed: 28/05/2022