A transfer to a QROPS is a “benefit crystallisation event” and requires a test against a pension members lifetime allowance - £1.6 million for the 2007/2008 tax year and £1.65 million for the 2008/2009 tax year. If your fund exceeded the lifetime allowance level as at 5th April 2006 you will need to claim protection for it before a transfer to a QROPS.

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