(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)
Where the further employment is with another employer the
early retirement benefits in payment will be treated as retained
benefits. The second employer can therefore give the greater of
uplifted pension and lump sum benefits taking account of retained
benefits in the normal way (subject always to
PSI6.5.51) or, alternatively,
a pension of N/60ths and 3N/80ths lump sum.
