PSI6.3.6 - Total Benefits on Retirement at Normal Retirement Age: Normal Retirement Age - Scheme Rules

(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)

[PN6.7]

In a scheme (other than an SDCS - see PSI6.3.1) for one person or for a certain category of employee the NRD must be stated in the scheme rules. Where a scheme includes more than one category different NRDs are acceptable (see PSI6.3.3) but the NRD for each category must be clearly defined. The rules of discretionary schemes do not have to include a specific NRD but instead leave the employer to select an NRD within a particular age range (which must be within the acceptable range - see PSI6.3.3) for each employee. This is acceptable as long as the employee is told his or her NRD when he or she joins the scheme; this cannot be left until the employee approaches retirement.

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