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GLOSSARY

Class A (or B or C) members definition

Published by a LexisNexis Pensions expert

What does Class A (or B or C) members mean?

Terms derived from HMRC former specimen rules that applied to members of occupational pension schemes approved under Chapter I who joined during specified periods prior to A-day.

There were different Inland Revenue limits for each class:

• Class A members: members of occupational pension schemes established on or after 14 March 1989 and all new members of earlier schemes joining on or after 1 June 1989.

• Class B members: members of occupational pension schemes established before 14 March 1989 who joined between 17 March 1987 and 31 May 1989.

• Class C members: members who joined occupational pension schemes before 17 March 1987.

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The pre A-day pensions tax regime [Archived]

ARCHIVED: This archived Practice Note explains the pensions tax regime and old Inland Revenue limits which applied before 6 April 2006 (A-day) and which may, to some extent, still be relevant today. It is not maintained.The pensions tax regime under the Finance Act 2004 came into effect on 6 April 2006, otherwise known as A-day. The pre A-day regime may still be of some relevance to schemes, many of which have retained some or all of the limits that applied under the older regime. This Practice Note focuses on the pre A-day tax regime.For further information on the tax regime after A-day (including transitional provisions included in the post A-day tax regime), see Practice Notes: •The Finance Act 2004, A-day and the pensions tax regime•Tax treatment of pensions—an introduction•Allowance protections—quick guide•Normal minimum pension age and protected pension age•Pension commencement lump sums (PCLSs)—Protection of right to higher tax-free lump sumThe Pension Schemes (Modification of Rules of Existing Schemes) Regulations 2006, SI 2006/364, allowed schemes to make amendments to their rules to...

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