Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Bulk transfer definition

What does Bulk transfer mean? Bulk transfer describes moving, in a single transaction, the value of accrued pension rights (and corresponding liabilities/assets) for a defined group of members from one occupational pension scheme to another. It is a descriptive pensions term, with conditions and safeguards set by legislation rather than case law. Across England & Wales and Scotland, and in Northern Ireland via corresponding regulations, bulk transfers may proceed with or without member consent, subject to statutory tests. For defined benefit (DB) rights, trustees typically require an actuary’s certificate that members’ rights in the receiving scheme are, broadly, no less favourable. For defined...

Trust-based occupational pension scheme bulk transfers: legal essentials on DB/DC, transfers without consent, preservation, DC-to-DC, tax, documentation and contracted-out rights

Published by a LexisNexis Pensions expert

Practice notes

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This introductory guide, dealing with trust-based occupational pension schemes, is chiefly for trainees, newly qualified lawyers and others, and anyone new to or unfamiliar with pensions law.

A Bulk transfer involves moving a defined cohort of members from one pension scheme (the transferring scheme) to another (the receiving scheme).

Under such a transaction, the transferring scheme pays a single, aggregated transfer amount to the receiving scheme, covering all of those members.

Those members then immediately cease to have benefit rights in the transferring scheme and instead acquire benefits under the receiving scheme.

This beginners’ guide outlines the various forms of bulk Pension transfer that may take place in practice.

For a concise introduction to individual pension transfers, please refer to Practice Note: Individual pension transfers—beginners’ guide.

Active members

If active members are included in a bulk transfer, careful consideration must be given to the basis (if any) on which they will build up future benefits in the receiving scheme.

Where a bulk transfer occurs between Defined benefit (DB) schemes, pensionable service is very commonly indeed treated as continuous...

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Wyn Derbyshire

gunnercooke LLP

Wyn is a partner at gunnercooke LLP and specialises in pensions, trust and employment law in all industry sectors, dealing with the transactional, advisory and documentation aspects.He also has wide experience of the pensions implications of heavyweight corporate transactions and flotations, the issues arising from the establishment and merger of pension schemes, and sex equalisation and other discrimination issues in respect of benefits provided by pension schemes. In addition, he provides advice to pension scheme trustees generally.Recent transactions include advising Amcor on pension matters relating to the acquisition of Alcan business and the acquisition of Northern Foods PLC by Boparan Holdings.He is a co-author (with Stephen Hardy and Stephen Maffey) of TUPE: Law and Practice, published by Spiramus Press (now in its 4th edition), and co-author (with Stephen Hardy and David Wicks) of Money & Work, published by Spiramus Press in August 2007. He has also...

Web page updated on 21/05/2026

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