289. Benefits under employer-financed retirement benefits.

Chapter 2 of Part 6 of the Income Tax (Earnings and Pensions) Act 20031 applies to relevant benefits2 provided under an employer-financed retirement benefits scheme3, which is a scheme for the provision of benefits consisting of or including relevant benefits to or in respect of employees or former employees of an employer4. However, neither a registered pension scheme5 nor a section 615(3) scheme6 is an employer-financed retirement benefits scheme7.

If a benefit to which Chapter 2 of Part 6 applies is received by an individual, the amount of the benefit8 counts as employment income of the individual for the relevant