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What is a Trustee Buyout Plan (section 32a)?

April 26, 2017buyout Plan section Trustee

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What is a Trustee Buyout Plan (section 32a)?

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Trustee Buyout Plans are transfer value-only plans. They can be bought by the trustees of an occupational money purchase pension scheme on winding up the scheme. Member’s benefits are transferred into Trustee Buyout Plans and Scottish Widows issues the individual members with their own policies.