PART 3Lifetime allowance
Information provided by the FAS scheme manager to qualifying members about benefit crystallisation events15
1
The FAS scheme manager must provide a statement containing the information in paragraph (2) to each qualifying member—
a
who has become entitled to receive assistance, at least once in each tax year; or
b
in respect of whom a benefit crystallisation event has occurred, within three months of that event,
or, if the member has died, the FAS scheme manager must provide the statement to the member’s personal representatives.
2
The information is the percentage of standard lifetime allowance expended in relation to the member by—
a
benefit crystallisation events in respect of the FAS; and
b
benefit crystallisation events under section 216 of the FA 2004 prior to the transfer to the Secretary of State mentioned in regulation 2 of these Regulations except for a benefit crystallisation event which relates to a liability or pension obligation which is not discharged under section 161 of the Pensions Act 2004 as modified by paragraph 3D of Schedule 1 to the FAS Regulations 2005.
3
No obligation to provide a statement under paragraph (1)(b) arises if a statement is required to be provided under sub-paragraph (a) of that paragraph or under regulation 16(1)(a) of these Regulations.
4
For the purposes of paragraph (1)(a), a qualifying member becomes entitled to receive assistance in the circumstances set out in regulation 7(2) of these Regulations.