Regulation 14A Annual allowance: annual provision of information by scheme administrator to memberF1C1C2
Where—
an individual is a member (“the member”) of a registered pension scheme for all or part of a pension input period ending in a tax year (“the relevant pension input period”) who meets one of the conditions in paragraph (8), and
both of the conditions in paragraph (9) are met,
the scheme administrator must provide the member with a statement containing the information F4specified in paragraph (10) if the condition in sub-paragraph (b)(ii) is met but otherwise containing the information specified in paragraph (2) (the “pension savings statement”).
For the tax year 2015-16—
for the purposes of this regulation the pre-alignment and post-alignment tax years are treated as a single tax year and references to “tax year”, “the relevant tax year” and “the relevant pension input period” shall be construed accordingly,
without prejudice to sub-paragraph (a), the condition in paragraph (1)(b)(i) is satisfied if the aggregate of the pension input amounts for the tax year 2015-16 exceeds £80,000, or the aggregate of the pension input amounts for the post-alignment tax year exceeds £40,000,
without prejudice to sub-paragraph (a), the information required to be provided pursuant to paragraphs (2)(a), (2)(c), (10)(a), (10)(b), (10)(c) and (10)(f) must be provided separately for the pre-alignment and post-alignment tax years,
the annual allowance for that tax year is excluded from the information required to be provided pursuant to paragraph (2)(d), F8...
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The information is—
the aggregate of the pension input amounts for the relevant pension input period in respect of all the arrangements under the registered pension scheme relating to the member (see section 152),
the annual allowance for the tax year in which the relevant pension input period ends (“the relevant tax year”),
the aggregate of the pension input amounts in respect of all the arrangements under the registered pension scheme relating to the member for each of the pension input periods ending in the three tax years immediately preceding the relevant tax year (subject to paragraph (3)), and
the annual allowance for each of the three preceding tax years or where one or more of the three preceding tax years is the 2008-09, 2009-10 or 2010-11 tax year, the assumed annual allowance for that tax year pursuant to paragraph 30(3)(a) of Schedule 17 to the Finance Act 2011.
Where a pension input period in paragraph (2)(c) ends in the 2008-09, 2009-10 or 2010-11 tax year, the pension input amount for that pension input period must be determined on the basis that the assumptions in paragraph 30(3)(b) of Schedule 17 to the Finance Act 2011 apply to that pension input period.
The scheme administrator must provide the member with the pension savings statement no later than the 6th October following the relevant tax year. This paragraph is subject to paragraphs (5) F9, (6) and (6C).
Where the relevant tax year is 2011-12, the scheme administrator must provide the member with the pension savings statement for that year no later than 6th October 2013.
Where the scheme administrator has not been provided with the information concerning the member by the member’s employer in respect of the relevant pension input period pursuant to regulation 15A, the scheme administrator must provide the pension savings statement—
within 3 months following receipt of that information, or
if later, on or before the date specified in paragraph (4) or (where the relevant tax year is 2011-12) paragraph (5).
This paragraph applies where—
the scheme administrator has 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, and
the conditions in paragraph (1)(a) and (b) are met.
This paragraph applies where —
a change is made to scheme rules,
as a result of the change to scheme rules the aggregate of the member’s pension input amounts has changed in a pension input period, and
the conditions in paragraph (1)(a) and (b) are met.
Where paragraph (6A) or (6B) applies, the scheme administrator must provide the member with a pension savings statement for a pension input period falling within the relevant time—
within 3 months after the scheme administrator receives the additional information pursuant to regulation 15B or the change to scheme rules is made, or
if later, on or before the date specified in paragraph (4),
irrespective of whether a pension savings statement has previously been provided for the relevant tax year.
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.
In this regulation, “current tax year” means the tax year in which the condition in paragraph (6A)(a) or (6B)(a) is met.
Where—
the member meets the conditions in paragraph (1)(a) and (b), and
paragraph 28 of Schedule 17 to the Finance Act 2011 applies (provision for a straddling pension input period),
the scheme administrator must provide the member with a pension savings statement containing the pension input amount in respect of the pre-announcement period and post-announcement period in addition to the information specified in paragraph (2).
The conditions referred to in paragraph F11(1)(a) are as follows.
The conditions referred to in paragraph (1)(b)(ii) are as follows.
Condition D The scheme administrator has reason to believe that the member has first flexibly accessed pension rights for the purposes of sections 227B to 227F.
Condition E That the overall total of the following amounts is more than F13£10,000—
- (a)
for each money purchase arrangement relating to the member under the scheme, the pension input amount for the relevant pension input period in respect of the arrangement, and
- (b)
for each hybrid arrangement relating to the member under the scheme, the greater of such of input amounts A and B mentioned in section 237 as are, for the purposes of section 237, relevant input amounts for the relevant pension input period in the case of the arrangement.
- (a)
The information is—
the total of—
the pension input amounts for the relevant pension input period in respect of each money purchase arrangement relating to the member under the scheme, and
the pension input amounts for the relevant pension input period in respect of each hybrid arrangement under the scheme—
that relates to the member, and
for which the pension input amount for the relevant pension input period is input amount A or B mentioned in section 237,
the total of—
the pension input amounts for the relevant pension input period in respect of each defined benefits arrangement relating to the member under the scheme, and
the pension input amounts for the relevant pension input period in respect of each hybrid arrangement under the scheme—
that relates to the member,
for which the pension input amount for the relevant pension input period is input amount C mentioned in section 237, and
that is made before 14 October 2014 and has not become a hybrid arrangement (whether or not for the first time) on or after that day,
for each hybrid arrangement relating to the member under the scheme—
that is made on or after 14 October 2014 or has become a hybrid arrangement (whether or not for the first time) on or after that day, and
for which the pension input amount for the relevant pension input period is input amount C mentioned in section 237,
which of input amounts A, B and C mentioned in section 237 is a relevant input amount for the purposes of section 237 for the relevant pension input period in the case of the arrangement, and the amount of each of those input amounts that in the case of the arrangement is a relevant input amount for those purposes for that period,
the unadjusted alternative annual allowance for the relevant tax year, and the fact the member's money-purchase input sub-total for the relevant tax year will be tested against a F14£10,000 allowance,
the unadjusted alternative allowance for each of the three preceding tax years, and the fact that the member's money purchase input sub-total for each of those preceding years will be tested against—
a £4,000 allowance for the tax year 2017-18 and subsequent years,
a £10,000 allowance for the tax year 2016-17, or
if any of those preceding years is the tax year 2014-15 or earlier, the annual allowance for that year, and
for each of those three preceding years, the information given in the pension savings statement for the pension input period ending in that year under, as the case may be, sub-paragraphs (a) to (c) or paragraph (2)(a).
If, in the case of a hybrid arrangement, input amount C mentioned in section 237—
is a relevant input amount for the purposes of section 237 for the relevant pension input period, and
is equal to—
input amount A or B mentioned in section 237 if that is the only other relevant input amount for the purposes of section 237 for that period, or
the greater of input amounts A and B mentioned in section 237 if both are relevant input amounts for the purposes of section 237 for that period,
the pension input amount in respect of the arrangement for that period is, for the purposes of paragraph (10), treated as being input amount A or B or, as the case may be, the greater of input amounts A and B (and, in either case, not input amount C).
In paragraph (10)(d) and (e) “the unadjusted alternative annual allowance”, in relation to a tax year, means the amount that would be the member's alternative annual allowance under section 227B(2) for that tax year if any increases under section 228A(2) (carry forward of unused allowance from preceding 3 years) F16and any reductions under section 228ZA (tapered reduction of annual allowance: high-income individual) are ignored.
Condition A
The individual is an active member of the registered pension scheme referred to in paragraph (1)
Condition B
The individual is a deferred member of the registered pension scheme referred to in paragraph (1) in relation to a cash balance arrangement and the condition in section 230(5B)(b) (cash balance arrangements) is not met in respect of the pension input amount for the relevant pension input period.
Condition C
The individual is a deferred member of the registered pension scheme referred to in paragraph (1) in relation to a defined benefits arrangement and the condition in section 234(5B)(b) (defined balance arrangements) is not met in respect of the pension input amount for the relevant pension input period.
Annotations
Textual amendments
- F1
Regs. 14A, 14B inserted (11.8.2011) by The Registered Pension Schemes (Provision of Information) (Amendment) (No.2) Regulations 2011 (S.I. 2011/1797), regs. 1(1), 8
- F2
Words in reg. 14A(1)(b) inserted (6.4.2015) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 paras. 88(2)(a), 91(a) (with Sch. 1 para. 91(b))
- F3
Reg. 14A(1)(b)(ii) and word inserted (6.4.2015) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 paras. 88(2)(b), 91(a) (with Sch. 1 para. 91(b))
- F4
Words in reg. 14A(1) inserted (6.4.2015) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 paras. 88(2)(c), 91(a) (with Sch. 1 para. 91(b))
- F5
Reg. 14A(1A) inserted (6.4.2016) by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2016 (S.I. 2016/308), regs. 1, 2
- F6
Words in reg. 14A(1A)(d) substituted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017 (S.I. 2017/11), regs. 1(1), 4(a)
- F7
Word in reg. 14A(1A)(d) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017 (S.I. 2017/11), regs. 1(1), 4(b)
- F8
Reg. 14A(1)(f) and word omitted (with effect in accordance with reg. 1(3) of the amending S.I.) by virtue of The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017 (S.I. 2017/11), regs. 1(1), 4(c)
- F9
Words in reg. 14A(4) substituted (6.4.2022) by The Registered Pension Schemes (Miscellaneous Amendments) Regulations 2022 (S.I. 2022/392), regs. 1, 4(a)
- F10
Reg. 14A(6A)-(6E) inserted (6.4.2022) by The Registered Pension Schemes (Miscellaneous Amendments) Regulations 2022 (S.I. 2022/392), regs. 1, 4(b)
- F11
Words in reg. 14A(8) substituted (6.4.2015) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 paras. 88(3), 91(a) (with Sch. 1 para. 91(b))
- F12
Reg. 14A(9)-(12) inserted (6.4.2015) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 paras. 88(4), 91(a) (with Sch. 1 para. 91(b))
- F13
Sum in reg. 14A(9) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 24(6)(a)
- F14
Sum in reg. 14A(10)(d) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 24(6)(b)
- F15
Reg. 14A(10)(e) substituted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2018 (S.I. 2018/5), regs. 1(1), 5(c)
- F16
Words in reg. 14A(12) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017 (S.I. 2017/11), regs. 1(1), 5
Modifications
- C1
Reg. 14A modified (13.2.2025 with effect in relation to the tax year 2024-25 and subsequent tax years) by The MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025 (S.I. 2025/52), regs. 1(2)(3), 24
- C2
Reg. 14A modified (6.4.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023 (S.I. 2023/113), regs. 1(2), 6 (with reg. 1(3))