PSI.Part13 - Withdrawal from Service
(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)
Contents
Section 1 - General
Section 2 - Refunds Of Contributions
Section 3 - Deferred Benefits
Section 4 - Deferred Benefits Under Individual
Policies (Buy-Out Policies)
Section 1 – General
| PSI13.1.1-2 | Background |
| PSI13.1.3 | Choices available to early leavers |
| PSI13.1.4 | Preservation |
| PSI13.1.5 | - early leaver |
| PSI13.1.6 | - qualifying service |
| PSI13.1.7 | - short service benefit |
| PSI13.1.8 | Revaluation |
| PSI13.1.9 | Alternatives to SSB - cash equivalent |
| PSI13.1.10 | Other alternatives |
| PSI13.1.11 | : option available for short service benefits |
| PSI13.1.12 | Contracting-out |
| PSI13.1.13 | - interaction with PSO requirements |
Section 2 - Refunds Of
Contributions
| PSI13.2.1 | General |
| PSI13.2.2 | Refunds |
| PSI13.2.3 | Contributions for widow(er)s' benefits |
| PSI13.2.4 | Re-admission to scheme membership |
| PSI13.2.5 | Leaving scheme without leaving employment |
| PSI13.2.6 | - transfer payments |
| PSI13.2.7 | Date of payment-change of mind |
| PSI13.2.8 | Addition of interest |
| PSI13.2.9 | Continuation of life cover after taking a refund on redundancy |
Section 3 - Deferred
Benefits
| PSI13.3.1 | General |
| PSI13.3.2 | Short service benefits |
| PSI13.3.3 | - even accrual |
| PSI13.3.4 | Uniform accrual |
| PSI13.3.5 | Maximum deferred benefits - defined benefit schemes post-Finance Act 1989 |
| PSI13.3.6 | Opting out of scheme on or after NRD |
| PSI13.3.7 | Maximum deferred benefits - defined benefit schemes pre-Finance Act 1989 |
| PSI13.3.7 | - schemes approved pre-27.7.1989 |
| PSI13.3.8 | Revaluation of deferred benefits |
| PSI13.3.9-12 | Money purchase schemes |
| PSI13.3.13 | Retained benefits |
| PSI13.3.14 | -Deferred lump sum general |
| PSI13.3.15 | - limit on benefit : basic benefits |
| PSI13.3.16 | : uplifted benefits |
| PSI13.3.17 | Revaluation of deferred lump sums |
| PSI13.3.18 | Return to pensionable service |
| PSI13.3.19 | Permissible dates of payment of deferred benefits |
| PSI13.3.20 | Mixed benefits – general |
| PSI13.3.21 | - pre-6 April 1975 service |
| PSI13.3.22 | - contracted-out schemes |
| PSI13.3.27 | Change of option |
| PSI13.3.30-31 | Death benefits during period of deferment |
| PSI13.3.32 | Pension sharing on divorce |
| PSI13.3.33 | - calculation of the pension debit |
| PSI13.3.34 | - lump sums |
Section 4 - Deferred Benefits
Under Individual Policies (Buy-Out Policies)
| PSI13.4.1 | Bought-out benefits |
| PSI13.4.2-4 | Assignment of scheme policies to employee |
| PSI13.4.5 | Required provisions |
| PSI13.4.6-8 | Discharge of liability |
| PSI13.4.9-10 | Permitted provisions |
| PSI13.4.11 | Surpluses under buy-out contracts |
| PSI13.4.12 | Voluntary clearance facility |
| PSI13.4.13 | Required provisions - Pensions on divorce |
| PSI13.4.14 | Pensions on divrce |
| PSI13.4.15 | - revaluation of lump sum |
