PSI6.4.18 - Total Benefits On Retirement At Normal Retirement Age: Pensionable Remuneration and Final Remuneration - Controlling Directors - Individual Arrangements

(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)

With an individual arrangement, the definition of final remuneration in PSI6.4.15(b) should be used if the individual is a controlling director at the outset or is likely to become one eg, because he or she belongs to the controlling family. In such a case the rules should cover the possibility of controlling director status. Individual arrangements do not otherwise need to cover the special restrictions. The administrator should notify us if the member subsequently becomes a controlling director.

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