It is possible to transfer the assets held in the following types of drawdown pension to another drawdown pension scheme:

• member’s capped drawdown and/or flexi-access drawdown;
• dependant’s capped and/or flexi-access drawdown;
• nominee’s flexi-access drawdown; or
• successor’s flexi-access drawdown.

For a transfer to be recognised the whole pot must be moved and it must be moved into a new arrangement that holds no other assets.

Where the funds held in a drawdown pension (either capped or flexi-access) are in respect of a drawdown pension that started before 6 April 2006 the funds must be kept in a separate arrangement and cannot be merged with any other drawdown funds. Because of this ring-fencing requirement, no further funds can be designated to these arrangements.