PSI14.2.13 - Transfer Payments: Benefits from Transfer Payments - Transferred Benefits on a Money Purchase Basis - Benefits on Late Retirement

(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)

If retirement is deferred beyond NRD, benefits may be increased to take account of late payment (see PSIPart 9 PSI9.1.1). The transferred monies can attract further interest for the period of deferment, and the benefits provided by the final employer may be increased on one of the bases permitted by PSIPart 9 (PSI9.1.1). Any certified lump sum (see PSI14.2.15) may also be increased by the addition of interest in line with the scheme's investment yield during the period of deferment.