Major shareholders/directors with a self-administered pension plan can, without incurring tax penalties, waive part of their pension entitlements.
It’s only possible to waive these pension right without tax penalties is that there must be deficits. A deficit is present if the commercial value of the assets is less that 75% of fiscal value of the self-administered pension.
Note: The waiver of the pensions rights is seen as a taxable profit for the company. This profit can be offset with any offsetable losses of the company