PSI6.4.8 - Total Benefits on Retirement at Normal Retirement Age: Pensionable Remuneration and Final Remuneration - Permitted Maximum
(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 permitted maximum may be increased annually by Treasury
Order as provided by section 590C in accordance with a formula
which takes account of increases in the cost of living measured by
the Retail Prices Index. It was introduced for the first 2 years
1988/89 and 1989/90 at a level of £60,000. For subsequent
years it has been set at the following levels:
| 1990-91 | £64,800 |
| 1991-92 | £71,400 |
| 1992-93 | £75,000 |
| 1993-94 | £75,000 |
| 1994-95 | £76,800 |
| 1995-96 | £78,600 |
