PSI25.1.9 - Flexibility in Pension Provision – Introduction - Model Rules

(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)

PSTA have provided model documentation for schemes/contracts wanting to take advantage of the flexibility provisions. Schemes with standard documentation may execute a model rule amendment using the documentation certificate PS5, PS6 or PS176 as appropriate. The certificate should be submitted to APSS in lieu of the amending documentation. The documentation certificate should state '08/2001 version of Appendix XII model rule amendment adopted.'

The model rule amendment cannot be used by the following schemes:

• LSAS which do not contain a requirement to secure benefits for members by the purchase of an annuity
• Simplified Defined Contribution Schemes - Parts I and III refer to benefit limits which do not apply to such schemes.

Such schemes must use non-standard rule amendments to adopt the flexibility provisions - see PSI25.1.10.