PSI16.2.35 - Discontinuance of Schemes: Winding-Up - Partial Winding-Up

(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)

[PN14.10]

The preceding paragraphs in this Section are mainly concerned with the total winding- up of a scheme. Sometimes, however, a scheme is only partially wound-up. This is most common where a participating employer in a centralised scheme goes into liquidation or is taken over. Where the links between the participating employer and the principal employer are no longer sufficiently close (see PSI21.2.1-3) or the participating employer goes out of business, it must withdraw from the scheme (see PSI21.1.12). The same considerations apply to partial winding-up as to total winding-up.

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