The lifetime allowance is enhanced if there has been a ‘recognised overseas scheme transfer’ at any time on or after 6 April 2006 and before a benefit crystallisation event (‘BCE’) (FA 2004, s. 224(1)).

Such a transfer is one by a ‘recognised overseas pension scheme’ (see ¶375-500) of assets relating to an arrangement under that scheme so as to become held for the purposes of, or to represent rights under an arrangement relating to the individual under a registered pension scheme (FA 2004, s. 224(2)).

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