(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)
[PN7.10]
Benefits under retirement annuity contracts or personal
pension schemes are generally regarded as retained benefits (see
PSI6.5.55 d and e). However, in the case of a Finance Act 1989
controlling director, in other words, one without continued rights,
any benefits from retirement annuity contracts or personal pension
schemes which arise from premiums or contributions paid out of
relevant earnings from the current employer are treated as benefits
provided by the current employer and aggregated with them for the
purpose of applying Revenue limits.
