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

After regulation 11 insert—

“Information provided by members to scheme administrators: recycling of lump sums

11A

Where a registered pension scheme is treated as making to a member of the scheme an unauthorised payment under paragraph 3A of Schedule 29 (recycling of lump sums)^f1, the member shall notify—

(a)

the date on which the unauthorised payment is treated as made, and

(b)

the amount of the payment,

to the scheme administrator within 30 days of the date on which the unauthorised payment is treated as made.

Information provided by members to scheme administrators: pension commencement lump sums

11B

Where—

(a)

a registered pension scheme intends to pay a pension commencement lump sum to a member of the scheme,

(b)

paragraph 2(5)(a) of Schedule 29 (available portion of the member’s lump sum allowance) applies to determine the permitted maximum, and

(c)

a benefit crystallisation event has occurred previously in relation to the member in respect of a scheme pension that crystallised under a money purchase arrangement,

the member shall provide such information as will enable the scheme administrator to calculate the available portion of the member’s lump sum allowance.”.