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Pop goes the pension

Pop stars may be condemned to become ageing rockers after an Inland Revenue ruling which prevents them from retiring early.

The Revenue has received early retirement applications from entertainers whose careers are on the wane and want to draw their occupational pension but it has rejected the move in pensions update 120.

Professional sportspeople can take retirement from 35 from their occupational pension schemes, because, as the Revenue states, “most professional sportspeople are not physically able to continue in their chosen profession until the age of 60”.

But the Revenue has ruled that applications from pop stars on the grounds that falling popularity or lack of success are not acceptable.

After-dinner speakers, TV pundits and quiz show contestants will also be barred from taking a pension through a company scheme before 60.

A Revenue spokesman says: “Some entertainers apply to us seeking a low normal retirement date. However, lack of success as a result of waning popularity or the deterioration of a solo singer&#39s or a pop group&#39s technique are not arguments the IR is prepared to accept as sufficient grounds for us agreeing to a low normal retirement date.”


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