Protected age 55 pension access - transfer options

granta

I know this has been discussed in a previous thread a while ago re: Fidelity SIPP, but I'm trying to get an understanding of the current/proposed rules as I think some things may have changed since the draft Bill was published and I can't find the relevant information online.

I have an old pension which does have protected age 55 access ('unqualified right') and I am looking to transfer it if possible. Previously, I had thought that you could only transfer it to schemes which also had protected age 55 access, e.g. Fidelity SIPP.

However, has that now changed so you can transfer it to ANY provider and that they would ring-fence that pot, but that you have to start the transfer before April 2023?

I also wondered whether, once I have transferred it, no further transfers are possible post April 2023 without losing the protected status?

Marcon

Horse's mouth (last updated 2 August 2022): https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm062250

granta

Thank you @Marcon

I think, if I have interpreted correctly, this is an upgrade on the previous draft guidance. 

No deadline for transferring, no restrictions on where to transfer to, and can re-transfer to another provider if needed without losing the protection.