Regulation 16 Pensions and annuities in payment: information provided to and by insurance companiesI1

This regulation applies if a registered pension scheme has provided an insurance company with funds, otherwise than from F1a drawdown pension fund F2or flexi-access drawdown fund, to secure the payment of—

The scheme administrator shall provide the insurance company, within 3 months of the date on which the recipient becomes entitled to the pension or annuity, with a statement of the F3total amount of the member’s lump sum allowance, and the total amount of the member’s lump sum and death benefit allowance, expended, at the date of the statement by F4relevant benefit crystallisation events in respect of that pension or annuity, and any pension commencement lump sum connected with that pension or annuity.

The insurance company shall provide to each pensioner or annuitant, at least once in each tax year, a statement of the F5total amount of the member’s lump sum allowance, and the total amount of the member’s lump sum and death benefit allowance, expended at the date of the statement, by F6relevant benefit crystallisation events in respect of that pension or annuity and any pension commencement lump sum paid in connection with that pension or annuity.

No obligation to provide a statement arises—