(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
Under the Regulations in
PSI1.3.20 (c) a scheme which ceases
either to be contracted-out, or approved under Chapter 1, Part XIV,
still continues to be exempt from the rule against perpetuities for
2 years, or any longer period that the OPB permit. Where approval
is being withdrawn from a scheme the Divisional Manager will
consult the OPB and give any necessary instructions about the
effect on the scheme of the perpetuities rule.
