NIM02740 | Earnings of employees and office holders: retirement benefits schemes from 6th April 2006 - overseas pension schemes: superannuation funds to which section 615 ICTA applies

Paragraph 11 of Part 6 of Schedule 3 to the Social Security (Contributions)Regulations 2001 (as inserted by regulation 8(7) of the Social Security (Contributions)(Amendment No. 2) Regulations 2006)

Section 615(3) Income and Corporation Taxes Act 1988

A section 615 scheme is not a UK-approved pension scheme. It is a special type of superannuation fund established:

• for individuals who are not resident in the United Kingdom

• by an employer whose trading activities are conducted partly overseas.

IPT Technical Team, Pensions, Nottingham, decides whether a scheme meets the conditions of being a section 615 scheme.

For details of the NICs position on:

• an employer’s payment to a section 615 fund, see NIM02741

• a payment by way of an annuity from such a fund, see NIM02742

• the income tax position on such schemes, see EIM15064