(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)
[PN13.36]
The rules of a centralised scheme should require a surplus on
winding-up or partial winding-up to be dealt with as explained in
PSI16.2.20and
PSI20.9.12-24. If a refund
is to be made to the departing employer (or employers), the prior
written agreement of this Office is required. If a refund of
surplus is proposed refer the case to Surplus Funds Section in
accordance with
PSI20.9.14.
