Transfers / Additional Contributions - Using events to schedule one-off or ongoing transfers into money purchases

Using Events to Schedule One-Off or Ongoing Transfers into Money Purchases

Aside from regular contributions made from earnings, events can also be used to schedule one-off or recurring transfers from investments or savings into money purchases.

Transfers between accounts are scheduled on the Investment screen’s > Advanced Settings > Transfers / Additional Contributions panel.

This panel can also be used to schedule the transfer of one-off lump sum inflows - such as proceeds from the sale of a property or tax free cash from a money purchase - from annual surplus into a particular investment. When transferring surplus inflows, be sure to select From: Surplus.

If you are scheduling recurring transfers into a money purchase, two events are required: one to schedule beginning of the transfers (this could be Start if transfers are to begin at the start of the plan) and another to schedule the end of these transfers.

Note: The Transfers / Additional Contributions panel is only used to schedule transfers into money purchases. Transfers of funds out of money purchases – to take tax free cash, begin drawdowns or purchase an annuity – are scheduled separately on the Money Purchase screen’s Drawdown & Annuity panel.


Transfers are not Subject to Liquidation Limits

Transfers between accounts are not subject to withdrawal limits. Even if one has set a withdrawal limit on an account (using settings on the Liquidation Limits / Draw Down Strategy panel), preventing the software from taking any ad hoc withdrawals, to fulfil expenses, you could still schedule one-off or recurring transfers from the account to another using the settings on the Transfers / Additional Contributions panel. Transfers between accounts are not subject to withdrawal limits and will therefore be allowed to occur.