From today, companies using the Aries Pensions System (APS) can check whether a controlling director or a high earner aged 45+, wishing to transfer to a personal pension, passes the new "GN 11 Replacement Test". The PP Transfer Regs (SI 2001/119) require this test for all such transfers (except from pre-6.4.01 s.32s) after Thursday this week.

If the total current value of the existing assets in the member's fund exceeds the maximum transferable value, in most cases the transfer cannot proceed. The new PA(90)-based calculation, specified in Appendix XI to IR 12 , has been implemented in the latest release (v8.2) of APS.

Other new features in v8.2 include:

• February 2001 edition of the FSAVC GNs
• Full-colour browser, with internal links, for IR 12, FSAVC GNs, and IR 76
• Appendix XI added to IR 12
• Added versatility in FSAVC Headroom Check calculations
• Updated information on Stakeholder, including Conversion and "Ch IV OPS" scheme types
• Transfer analysis updated, including new rules on TFC Certification and Overseas transfers
• Occupational schemes text updated for CSPASSA sections in force.