A pension scheme which has ceased to be a
registered pension scheme no longer qualifies for
the tax reliefs under chapter 4, part 4 FA 2004. (described at
RPSM02103010).
If the scheme is not wound up, it may continue as a
non-registered pension scheme. If it is an
occupational pension scheme, it may become subject
to the provisions relating to employer- financed retirement
benefits scheme.
Any life assurance business of a company which was entered
into for the purposes of a registered pension scheme ceases to be
pension business at the beginning of the company's period of
account in which the pension scheme ceases to be a registered
pension scheme. Treating the business as non-pension business
throughout the whole period of account avoids complication when
calculating the figures for the company's regulatory return.
| Glossary ( RPSM20000000) |
