(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)
Section 1 – General
Section 2 - Life Cover After Retirement
Section 3 - Normal Retirement Age
Section 4 - Pensionable Remuneration and Final
Remuneration
Section 5 - Maximum Total Benefits
Section 1 – General
| PSI6.1.1-2 | General |
| PSI6.1.3 | Other schemes of the employer |
| PSI6.1.4 | - aggregation for limits purposes |
| PSI6.1.9-11 | State pensions |
| PSI6.1.14 | Payment of pensions date of commencement |
| PSI6.1.15 | - pensions payable for life |
| PSI6.1.16 | - variable benefits |
| PSI6.1.17 | - reducing pensions |
| PSI6.1.18 | - terminating pensions |
| PSI6.1.22 | Pensions must not be surrendered, commuted or assigned |
| PSI6.1.23 | Pensions must not be surrendered, commuted or assigned |
| PSI6.1.24 | Forfeiture of benefits |
| PSI6.1.25 | - employer’s lien |
| PSI6.1.27 | Sex discrimination |
| PSI6.1.28 | - the barber case |
| PSI6.1.29 | Pension sharing on divorce |
Section 2 - Life Cover After
Retirement
| PSI6.2.1. | General |
| PSI6.2.2 | - availability |
| PSI6.2.3 | - exceptions |
| PSI6.2.4 | Revenue concern |
| PSI6.2.5-6 | Life cover after retirement at nrd value of benefit for revenue limits purposes |
| PSI6.2.7 | - amount of cover |
| PSI6.2.10 | Pension business considerations |
| PSI6.2.11-12 | Inheritance tax considerations |
| PSI6.2.13 | Life cover in service after nrd |
| PSI6.2.14 | Self-administered schemes |
Section 3 - Normal Retirement
Age
| PSI6.3.1 | General |
| PSI6.3.2 | Normal retirement age and normal pension age distinguished |
| PSI6.3.3 | Establishing a normal retirement date |
| PSI6.3.4-5 | Directors/controlling directors |
| PSI6.3.6 | Scheme rules |
| PSI6.3.7 | Supplementary schemes |
| PSI6.3.12 | Re-prescription of nrd |
| PSI6.3.13-15 | Lowering of nrd |
| PSI6.3.26 | Variable nrds - other methods |
| PSI6.3.30-31 | Low nrds |
| PSI6.3.32-33 | - directors/controlling directors |
| PSI6.3.38 | High nrds |
Section 4 - Pensionable
Remuneration and Final Remuneration| PSI6.4.1.-2 | General |
| PSI6.4.3-6 | Statutory definition |
| PSI6.4.7-8 | Permitted maximum |
| PSI6.4.9 | - relevant associated employments |
| PSI6.4.10-11 | - connected schemes |
| PSI6.4.13 | Scheme rules |
| PSI6.4.15 | Acceptable definitions |
| PSI6.4.16 | Controlling directors |
| PSI6.4.17 | - scheme rules |
| PSI6.4.18 | - individual arrangements |
| PSI6.4.19 | - ceasing to be a controlling director |
| PSI6.4.20-21 | High earners |
| PSI6.4.22-23 | Fluctuating emoluments general |
| PSI6.4.24 | Large salary increases shortly before retirement |
| PSI6.4.25-26 | Directors’ fees general |
| PSI6.4.28 | - canalisation of directors’ fees |
| PSI6.4.33-34 | Adding for cost of living “dynamisation” |
| PSI6.4.35 | - acceptable indices |
| PSI6.4.36 | - scheme rules |
| PSI6.4.37-38 | - restriction on use of dynamised final remuneration |
| PSI6.4.39 | : money purchase schemes |
| PSI6.4.42 | Earnings which peak in mid-career |
| PSI6.4.43 | Incapacity |
| PSI6.4.44 | Use of notional pay for final remuneration |
| PSI6.4.45 | Profit related pay (prp) schemes |
| PSI6.4.46 | Final remuneration not determined for tax purposes |
| PSI6.4.47 | Salary sacrifices |
Section 5 - Maximum Total
Benefits
| PSI6.5.1-2 | General |
| PSI6.5.3 | Public sector type schemes |
| PSI6.5.4-5 | Final salary/defined benefit schemes |
| PSI6.5.6 | - uplifted 60ths |
| PSI6.5.7 | - augmentation |
| PSI6.5.8-9 | - n/30ths accrual f(no 2)a 1987 |
| PSI6.5.10 | Finance act 1989 members |
| PSI6.5.11-12 | - high accrual rates |
| PSI6.5.13-20 | Members subject to pre-finance act 1989 basis for early/late retirement |
| PSI6.5.21 | Subject to the post-finance act 1989 basis |
| PSI6.5.27-28 | Money purchase schemes |
| PSI6.5.32 | Scheme rules |
| PSI6.5.35 | Specimen limits rule |
| PSI6.5.37 | - career average schemes |
| PSI6.5.51-52 | Retained benefits disregard |
| PSI6.5.53-55 | Avcs paid subsequent to joining scheme |
| PSI6.5.56 | - valuation |
| PSI6.5.57-58 | Retained benefits paid or already in payment |
| PSI6.5.59-60 | Benefits under with-profits or investment-linked policies |
| PSI6.5.61 | Recalculation |
| PSI6.5.62 | - escalating pensions : fixed rate increases |
| PSI6.5.63 | : cost of living increases |
| PSI6.5.64 | (This text has been withheld because of exemptions in the Freedom of Information Act 2000) |
| PSI6.5.65 | - armed forces benefits |
| PSI6.5.66 | - retirement annuities or personal pensions |
| PSI6.5.67 | - controlling directors |
| PSI6.5.68 | Retained benefits offering a choice of form |
| PSI6.5.69 | - concurrent employments |
| PSI6.5.70 | Pensionable service general |
| PSI6.5.71 | - Continuous service on change of employer |
| PSI6.5.72 | - Continuous service on change of employer - employers associated |
| PSI6.5.73 | - Continuous service on change of employer - take-overs/mergers/reconstructions |
| PSI6.5.74-75 | - aggregation of split service |
| PSI6.5.80 | Low normal retirement age restriction on benefits |
| PSI6.5.81 | - benefits at normal retirement age |
| PSI6.5.82 | - early retirement |
| PSI6.5.83-84 | - late retirement |
| PSI6.5.85 | - procedure |
| PSI6.5.86 | Previous expectations |
| PSI16.5.87-102 | Pension Sharing on Divorce |
