Prudential Regulation Authority Rulebook

12.1

A firm must ensure that:

1. (1) its pension policy is in line with its business strategy, objectives, values and long-term interests;
2. (2) when an employee leaves the firm before retirement, any discretionary pension benefits are held by the firm for a period of five years in the form of instruments referred to in 15.15; and
3. (3) when an employee reaches retirement, discretionary pension benefits are paid to the employee in the form of instruments referred to in 15.15 and subject to a five-year retention period.

[Note: Art. 94(1)(o) of the CRD]

[Note: CRD]