Regulation 4 Amendment of the Registered Pension Schemes (Provision of Information) Regulations 2006I1

The table appended to Regulation 3(1) (provision of information by scheme administrators to the Commissioners) is amended as follows.

In the second column of entry 1 (unauthorised payments)^f1, in sub paragraph (c), for “HMRC” substitute “the Commissioners”.

In entry 6 (benefit crystallisation events and enhanced lifetime allowance or enhanced protection)—

In entry 7 (pension commencement lump sum), for the text in column 1 substitute—

“The scheme makes a pension commencement lump sum payment to a member which—

(a)

exceeds 25% of the amount found by adding the amount of the payment to the entitlement amount; and

(b)

is more than 7.5%, but less than 25%, of the standard lifetime allowance for the tax year in which the sum is paid.

For the purposes of this reportable event, “the entitlement amount” is—

(i)

the amount crystallised by reason of the member becoming entitled to the pension with which the lump sum payment is associated, or

(ii)

where a benefit crystallisation event did not occur by reason of the member becoming entitled to the pension with which the lump sum payment is associated, the amount that would have been so crystallised if the member had been under the age of 75 at the date the entitlement arose.”;

In the second column of entry 7, for the words in paragraph (b), substitute “the entitlement amount”.

In the second column of entry 9 (transfers to qualifying recognised overseas pension schemes), in paragraph (a), after “country” insert “or territory” and for “located” substitute “situated”.

Omit entries 15 (alternatively secured pension) and 17 (lump sum payment after the death of a member aged 75 or over).

In entry 18 (scheme chargeable payment), in column 1 omit “section 181A (alternatively secured pensions: minimum level of payment);”.

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