Explanatory note

These Regulations amend the Registered Pension Schemes (Provision of Information) Regulations 2006 (S.I. 2006/567).

Regulation 1 provides for citation and commencement.

Regulation 2 introduces the amendments.

Regulation 3 amends regulation 4 which deals with the provision of information in respect of pension schemes that have been wound-up. A new category of pension scheme, assigned annuity policies, is added to the list of schemes which are exempted from the requirement to provide information to HMRC on winding-up. The Pension Schemes (Transfers, Reorganisations and Winding-Up (Transitional Provisions) Order 2006 (S.I 2006/573) as amended by The Pension Schemes (Transfers, Reorganisations and Winding-Up (Transitional Provisions) (Amendment) Order 2010 (S.I. 2010/529) provides that an assigned annuity policy becomes a registered pension scheme at the time the policy is assigned provided certain conditions are met.

Regulation 4 inserts a new regulation 5A providing that where a registered pension scheme is treated as having made a scheme chargeable payment under section 183 (money purchase arrangements) or section 185 (other arrangements) of the Finance Act 2004 the scheme administrator must provide certain information to HMRC in a written annual report.

A full Impact Assessment has not been prepared for this instrument as a negligible impact on the private or voluntary sectors is foreseen.