PSI12.2.23 - Benefits on Death after Retirement: Lump Sum Benefits and Pension Guarantees - Guarantee payments - Disposal of Guarantee Payments

(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)

[PN12.11]

Payments under a pension guarantee may normally be paid at the trustees’ discretion (but see PSI12.2.19about contracted-out schemes). Whether the payments are in pension or lump sum form, the recipients need not be dependants; but pensions must only be paid to individuals, not bodies such as charities, societies and clubs.

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