PSI20.1.9 - Funding and Surpluses: Funding
General - Classification of Schemes by Investment
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(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)
There are many different methods by which schemes may be
funded. For internal convenience we classify schemes in two main
groups, according to their method of investment:
- insured schemes (where contributions are
applied wholly as premiums on insured policies), and
- self-administered schemes (where the
contributions are directly invested by the trustees).
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