467. Authorised payments.

467.     Authorised payments.

The only payments1 that a registered pension scheme2 is authorised to make to or in respect of a person who is or has been a member3 are: (1) pensions4 permitted by the pension rules or the pension death benefit rules5; (2) lump sums permitted by the lump sum rule or the lump sum death benefit rules6; (3) recognised transfers; (4) scheme administration member payments; (5) payments pursuant to a pension sharing order or provision; and (6) payments of a description prescribed by regulations made by the Commissioners for Revenue and Customs7.

A 'recognised transfer' is