(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)
It is not desirable from either our, or the scheme members',
point of view for execution of the definitive deed to be delayed
longer than is absolutely necessary. The stated period referred to
in
PSI1.3.28 (d). should not therefore
exceed 2 years. Deeds of extension of the interim period should not
be accepted unless, exceptionally, there is a genuine need, e.g. in
cases of a company take-over where there are difficulties in
consolidating pension arrangements. Draw attention to PN 2.10-11
and ask for definitive documentation to be adopted as soon as
possible.
