IPTM7060 | Exceptions: pension policies: ITTOIA05/S479

Registered pension schemes

Since 6 April 2006 a policy is excluded from the chargeable event rules if it constitutes a registered pension scheme or is issued or held in connection with such a scheme. This means, for instance, that a policy held in connection with a non-UK scheme will also be excluded, provided the scheme is registered.

All approved occupational pension schemes, personal pension schemes and retirement annuity contracts existing on 5 April 2006 automatically became registered pension schemes on 6 April 2006 under FA04/SCH36/PARA1.

Further information on registered pension schemes can be found in the Pensions Tax Manual at PTM030000.