PSI13.3.27 - Withdrawal from Service: Deferred Benefits - Change of Option

(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)

[PN10.47]

Subject to the preservation and, where appropriate, the contracting-out requirements, the scheme rules may permit an employee who has elected for, or is otherwise entitled to, deferred benefits, to change his or her mind later and take a refund of his or her own contributions if this could have been done on leaving (see Section 2 of this Part). Such an option must be exercised before the employee receives any benefit under any scheme relating to the same employer.

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