PSI6.4.9 - Total Benefits On Retirement At Normal Retirement Age: Pensionable Remuneration and Final Remuneration - Permitted Maximum -- Relevant Associated Employments

(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)

[PN7.15 & Glossary]

The meaning of relevant associated employments is defined in section 590A(4) ICTA 88. Employers are associated if one is controlled by the other or both are controlled by a third party. Control in this context is construed in accordance with section 416 ICTA 1988 in relation to close companies or with section 840 for other corporate bodies. Where an employee is, or has been, concurrently employed by two (or more) associated employers for a period, no matter how short, and that period counts under the scheme in respect of the two (or more) employments as pensionable, then remuneration in respect of those two (or more) employments is restricted in aggregate to the permitted maximum.

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