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Section 612(1) ICTA 1988

As EIM15403 indicates, payments and benefits other than those made on retirement or death can be “relevant benefits�. They comprise payments and benefits made:

• in anticipation of retirement. This prevents, for example, avoidance of tax by making a lump sum available before the retirement date. There is no age limit to apply and whether a payment is made in anticipation of retirement is a question of fact. If a payment is clearly linked to retirement or is in substitution for a payment that would have been made on or after retirement then it will be “in anticipation of retirementâ€�
• after retirement or death in connection with past service. This means, for example, that payments to retired former employees are relevant benefits
• in connection with any change in the employee’s service. Such payments are normally chargeable under Section 62 ITEPA 2003 in any event (see EIM00680).
• by virtue of a pension sharing order.