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) ICTA 1988
A section 615 scheme is not a UK-approved pension scheme. It is a special type ofsuperannuation fund established:
- for individuals who are not resident in the United Kingdom
- by an employer whose trading activities are conducted partly overseas.
Audit and Pension Schemes Services, Nottingham, decides whether a scheme meets theconditions 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.