PSI16.2.46 - Discontinuance of Schemes: Winding-Up - Prohibition on Amendment of Old Code Schemes - Revenue Limits

(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)

Another (acceptable) effect of allowing the concession is that the amount of non- commutable pension payable on winding-up should not be subject to Revenue limits; an unappropriated surplus could otherwise result. The usual limits on all forms of lump sum benefits are nevertheless essential.

Contact: | Date issued: | Next review: