PSI25.2.7 - Flexibility in Pension Provision – Annuity Deferral/Income Drawdown - Valuation of Pension in Payment under Income Drawdown for Retained Benefit Purposes

(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)

It may be necessary to value a member's pension that is already in payment under a drawdown facility for retained benefit purposes (see PSI6.5.57). If so, it should be valued on the basis of a maximum amount capable of being withdrawn. See PSI25.2.4.