PSI6.4.19 - Total Benefits on Retirement at Normal Retirement Age: Pensionable Remuneration and Final Remuneration - Controlling Directors - Ceasing To Be A Controlling Director

(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)

The restricted definition of final remuneration (see PSI6.4.16) does not apply to an individual who ceased to be a controlling director before retirement or before NRD, whichever is the earlier, and before 17 March 1987. Former controlling directors who retire on or after 17 March 1987 and have been controlling directors at any time after 16 March 1987 and within the last 10 years of their service, remain subject to the definition in PSI6.5.15(b). For this latter category of former controlling directors, the restriction is applied as explained in PSI6.4.6.

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