(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)
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
[PN8.10-11]
The payment of very small pensions can impose a heavy
administrative burden on Life Offices and scheme administrators. To
save the disproportionate expense of paying such pensions, they may
be wholly commuted for a lump sum (subject to any tax chargeable
under section 599 ICTA 1988 - see
PSI17.2.23).
