(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)
Where an employee has benefits in the same scheme that relate
to
the payment of benefits relating to the employment with a participating employer must be made in accordance with conditions set out in PSI6.1.1-38. Subject to any Department of Social Security requirements, there is no objection to the benefits relating to the pension credit being paid at any time between age 50 and 75. The requirements of the Department of Social Security might be to restrict the age range within which the benefits or part of the benefits relating to the pension credit can be taken, for example the age range may be restricted between age 60 and 65. The payment of the pension credit benefits does not have to be linked to the employee’s normal retirement age as the pension credit benefits do not relate to the employee’s service with a participating employer.
