Former approved superannuation fund meaning

In UK pensions and tax practice, this describes a legacy occupational pension scheme that is closed to further accrual and identified for historic tax treatment. It is a statutory term originating in the Income and Corporation Taxes Acts: a fund qualifies if it (1) was an “approved superannuation fund” immediately before 6 April 1980 for the purposes of section 208, Income and Corporation Taxes Act 1970; (2) has not been approved for the purposes of Chapter I, Part 14, Income and Corporation Taxes Act 1988 at any time since 5 April 1980; and (3) has not received any contributions since 5 April 1980. The label is used in HMRC legislation and guidance to signpost grandfathered or transitional UK pensions tax treatment, including in the context of winding-up, preserved benefits, transfers, and the shift to registered pension schemes under the Finance Act 2004. In practice, such funds are typically closed, paid-up arrangements with no post‑1980 funding. Usage and effect are consistent across England & Wales, Scotland and Northern Ireland. The expression is not used in Irish tax law and should not be confused with the Republic of Ireland’s approved retirement fund (ARF) regime.