PSI16.2.18 - Discontinuance of Schemes: Winding-Up - Form of benefits on Winding-Up - Commutation

(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)

[PN14.8]

This concession also extends to trivial lump sums payable by schemes which provide lump sum benefits only. Such schemes can pay an immediate lump sum when the scheme is wound-up if the aggregate lump sum benefit prospectively payable under the scheme and any other scheme relating to the same employment is trivial (ie in aggregate it does not exceed £2,500).

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