(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)
Schedule 23ZA ICTA 1988 and the Personal Pension Schemes (Conversion of Retirement Benefits Schemes) Regulations came into force on 6th April 2001 as a result of the government’s introduction of stakeholder pension schemes. But the change applies equally to conversions to personal pension schemes whether or not they are to be stakeholder pension schemes. The intention is to give employers with existing benefit limited occupational pension schemes a choice of continuing with them or opting for contribution limited Chapter IV approval.
