PSI5.3.15 - Contributions by Employers: Special Contributions - "Hancock" Type Annuities provided Through an Exempt Approved Scheme

(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)

There is no objection to a scheme rule which enables benefits to be given to former employees even though the people in question were not eligible for scheme membership. These benefits usually take the form of an immediate annuity like a "Hancock" annuity (see PSI1.1.17). The benefits so provided must be acceptable in form and subject to normal Revenue limits.