Schedules

Schedule 9Pensions

Part 5Provision of information

Amendments of the Registered Pension Schemes (Provision of Information) Regulations 2006

106(1)In regulation 3 (provision of information by scheme administrator to the Commissioners for His Majesty’s Revenue and Customs), in paragraph (1), the Table is amended as follows.

(2)Omit the entries for the following reportable events—

(a)payments exceeding 50% of standard lifetime allowance;

(b)benefit crystallisation events and non-standard lifetime allowances;

(c)pension commencement lump sum;

(d)pension commencement lump sum: primary and enhanced protection provisions of Schedule 36;

(e)stand-alone lump sum.

(3)At the end insert—

“24 Payment of lump sum or lump sum death benefit in relation to relevant benefit crystallisation event
In relation to a relevant benefit crystallisation event, the scheme pays— (a) a lump sum to the member of the scheme in relation to whom the relevant benefit crystallisation event occurs, or (b) a lump sum death benefit to a person in respect of the death of that member.	The information is— (a) the member’s name and national insurance number, (b) the nature and amount of the lump sum or lump sum death benefit giving rise to the relevant benefit crystallisation event, (c) the date of the relevant benefit crystallisation event, (d) confirmation of whether or not the payment of the lump sum or lump sum death benefit has resulted in the member’s lump sum allowance or lump sum and death benefit allowance being exceeded, (e) so far as the payment of the lump sum or lump sum death benefit has resulted in the member’s lump sum allowance or lump sum and death benefit allowance being exceeded, confirmation that any amount of tax due on the excess as a result of the charge to tax on pension income under Part 9 of ITEPA 2003 has been paid, and (f) each relevant reference number (if any).”

“24 Payment of lump sum or lump sum death benefit in relation to relevant benefit crystallisation event

In relation to a relevant benefit crystallisation event, the scheme pays—

(a)

a lump sum to the member of the scheme in relation to whom the relevant benefit crystallisation event occurs, or

(b)

a lump sum death benefit to a person in respect of the death of that member.

The information is—

(a)

the member’s name and national insurance number,

(b)

the nature and amount of the lump sum or lump sum death benefit giving rise to the relevant benefit crystallisation event,

(c)

the date of the relevant benefit crystallisation event,

(d)

confirmation of whether or not the payment of the lump sum or lump sum death benefit has resulted in the member’s lump sum allowance or lump sum and death benefit allowance being exceeded,

(e)

so far as the payment of the lump sum or lump sum death benefit has resulted in the member’s lump sum allowance or lump sum and death benefit allowance being exceeded, confirmation that any amount of tax due on the excess as a result of the charge to tax on pension income under Part 9 of ITEPA 2003 has been paid, and

(f)

each relevant reference number (if any).”