Regulation 5 Amendment of the Registered Pension Schemes (Provision of Information) Regulations 2006

After regulation 14C (Individual protection 2016: provision of information by scheme administrator to member on request)^f1 insert—

“Annual allowance: provision of updated information by scheme administrator to member

14D.

(1)

Where, for a pension input period falling within the relevant time—

(a)

the scheme administrator has provided a member with information in respect of a pension input period ending in a tax year (“the relevant pension input period”) pursuant to regulation 14A(1) or 14B(1), and

(b)

either—

(i)

the scheme administrator has since been provided with additional information concerning the member by the member’s employer in respect of the relevant pension input period pursuant to regulation 15B (“the regulation 15B information”), or

(ii)

as a result of a change to scheme rules the aggregate of the member’s pension input amounts has changed in any pension input period falling within the relevant time (“the rule change aggregate”), and

(c)

the scheme administrator is not required to provide the member with a pension savings statement for the relevant pension input period under regulation 14A(6C),

the scheme administrator must provide the information referred to in paragraph (1)(a), as amended where necessary by either the regulation 15B information or the rule change aggregate, to the member again (“the updated information”).

(2)

The updated information must be provided by the scheme administrator—

(a)

within 3 months after the scheme administrator receives the regulation 15B information or the change to scheme rules is made, or

(b)

if later, on or before 6th October following the tax year in which the relevant pension input period ended.

(3)

In this regulation “relevant time” means a time beginning with the start of the tax year 6 years before the current tax year and ending with the end of the current tax year.

(4)

In this regulation, “current tax year” means the tax year in which either of the conditions in paragraph (1)(b) are met.”