(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)
Payments under a pension guarantee are usually paid out
shortly after the member’s death. But sometimes the
administrator finds it difficult to determine or locate the
beneficiary. In these cases the requirement in
PSI11.2.25 for transfer of
money to a separate account after two years normally applies also
to payments under a pension guarantee. The only exception concerns
members who retired early or left service with a deferred
pension.
