(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)
[PN10.45]
Whilst it is a condition of scheme approval or continued
approval that the trustees satisfy themselves before purchase that
a particular buy-out contract provides only suitable benefits, it
is sufficient for them to obtain from the insurance company a
warranty that the benefits satisfy the statutory requirements.
Insurance companies who wish to know beforehand that their policies
will satisfy our requirements may submit them to our Standard
Documents Section for examination. If you receive any enquiry from
an insurance company about this whether in writing or over the
telephone, you should refer it to Standard Documents Section to
deal with.
