PSI1.3.34 to38 - Establishment and Administration of Retirement Benefits Schemes: Exempt Approved Schemes and Conformity with Trust Law - Interim Deeds – Discretionary Schemes - Director Members

(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)

The members of a discretionary scheme are often directors of the employing company. In these circumstances you can assume that they have known their rights under the

scheme since its commencement even though an announcement may not have been issued until sometime later.