PSI6.5.13 - Total Benefits on Retirement at Normal Retirement Age: Maximum Total Benefits - Members Subject to Pre-Finance Act 1989 Basis for Early/Late Retirement

(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)

Look at the scheme’s eligibility rule to see at what age employees become eligible for membership. Then calculate the length of service needed to achieve 2/3rds pension based on the scheme’s accrual rate. A comparison can then be made to see whether there is any serious risk of many members being entitled to a full 2/3rds pension well before NRD.

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