(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)
Note: This Section of Part 9 does
not apply to members subject to or who have opted
for the post-Finance Act 1989 basis for late retirement.
[PN 7.45 & 8.34]
Inland Revenue limits for members not subject to the Finance
Act 1989 basis of benefit provision are based on the concept of
retirement at NRD after a full career. Where, however, the employee
continues working after NRD and all employer funded benefits are
deferred further benefits may be given which take those limits
above the maximum normally approvable at NRD.
PSI9.2.2 describes the ways in which
extra benefits can accrue under an approved scheme (but see
PSI9.2.14-18 where the member is a
controlling director).
