PSI6.1.15 - Total Benefits On Retirement At
Normal Retirement Age: General - Payment of pensions- Pensions
Payable for Life
(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 a requirement of approval that a pension for a retired
employee must be payable for life. But scheme rules may provide for
that pension to:
[PN7.21]
- Be forfeited in exceptional circumstances;
for example, if the pensioner becomes bankrupt or attempts to
assign his or her pension (see
PSI6.1.24), or
- terminate at SPA (see
PSI6.1.18), or
- have a recovery made from it under a lien
rule of any money due to the employer as a result of a criminal,
fraudulent or negligent act or omission by the employee (see
PSI6.1.25)
- be suspended where it is an early
retirement incapacity pension, continued payment of which is no
longer justifiable on these grounds (see
PSI10.2.13).-
The position in respect of pensions for people other than
employees, ie those payable to a member’s widow/widower and
dependants following death in service or retirement, are dealt with
at Part 11 Section 3 and Part 12 Section 1.
