PSI8.2.31 - Lump Sum Benefits and Communication: Commutation Factors - Commitment to Give Post- Retirement Increases - Periodic Review

(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)

In cases covered by PSI8.2.30the actuary’s certificate will normally cover a specified number of years ahead. The certified rate of increase should be reviewed periodically to see whether the actual increases matched the certified rate. A fresh certificate is then required if enhanced commutation factors are to continue to be acceptable. As a guide, a certificate covering no more than 5 years may be accepted.

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