(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 changes introduced by the Finance (No 2) Act 1987 and
described in
PSI6.4.2 apply to all retirements on or
after 17 March 1987. In respect of schemes approved before Royal
Assent to the Finance (No 2) Act 1987 (23 July 1987) they are
applied through the overriding provisions of paragraph 5, Schedule
23 ICTA 88 (see
PSI2.3.22). In relation to
schemes approved on or after 23 July 1987, they have to be
reflected in scheme rules under revised discretionary practice as a
condition of approval under section 591 ICTA 1988 (see
PSI2.3.13).
