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Tax Free Lump sum

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  • Marcon
    Marcon Posts: 16,471
    Tenth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Forumite
    edited 25 March at 8:40PM

    A GAR isn't a red flag; it's a safeguarded benefit, which means advice is required if the transfer value is £30K+.

    A red flag relates to the actual transfer process, and would mean that a transfer (even if the member has a statutory right to one) couldn't proceed, regardless of what advice has been taken or whether the adviser supports the transfer - so although the distinction might sound nitpicking, and probably is, it's also important!

    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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