HMRC has the power to make regulations restricting tax relief on employer contributions paid in respect of a member where:
•any of the benefits that the member may receive from a registered pension scheme are dependant on the non-payment of a benefit that the member was expecting to receive from an employer-financed retirements benefit scheme (basically a scheme which is not a registered pension scheme nor a superannuation fund for persons employed wholly outside the UK; see ¶423-900); and/or
•payment of benefits to the member from an employer-financed retirements benefits scheme would reduce the transfer value of any rights in a registered pension scheme
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