(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)
Pension: (As above)
Lump sums: Members subject to the post-Finance Act
1989 regime may have a maximum approvable lump sum of the greater
of 3/80ths of final remuneration for each year of service (up to 40
years) and 2.25 of the initial pension payable before commutation
or allocation to provide for a widow(er) or dependants(see
PSI8.1.25). Where added years
are credited, this applies also to the pension derived from the
added years credit, except where
PSI14.2.16 applies.
