Computation of the member’s ring-fenced transfer fund3B

The amount of a member’s ring-fenced transfer fund (“RFTF”) under a RNUKS5 is the aggregate of the sums and market value of the assets transferred as a result of the original relevant transfer6 or subsequent relevant transfer7 as has been transferred to the RNUKS without being subject to the unauthorised payments charge8.

Computation of the member’s ring-fenced taxable asset transfer fund3C

The amount of the member’s ring-fenced taxable asset transfer fund (“RFTATF”) under a RFTF in a RNUKS is the sum of—

a

the aggregate of the sums and market value of the assets transferred as a result of an original relevant transfer from a registered pension scheme to that RNUKS, and

b

so much of the member’s RFTATF under any other RNUKS as has been transferred to that RNUKS without being subject to the unauthorised payments charge.