The Registered Pension Schemes (Provision of Information) (Amendment) (No.2) Regulations 2011

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

8.  After regulation 14 insert—

“Annual allowance: annual provision of information by scheme administrator to member

14A.— (1) Where—

(a) 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

(b) the aggregate of the pension input amounts for the relevant pension input period in respect of each arrangement under the registered pension scheme relating to the member exceeds the annual allowance for that tax year,

the scheme administrator must provide the member with a statement containing the information specified in paragraph (2) (the “pension savings statement”).

(2) The information is—

(a) 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),

(b) the annual allowance for the tax year in which the relevant pension input period ends (“the relevant tax year”),

(c) 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

(d) 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.

(3) 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.

(4) 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) and (6).

(5) 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.

(6) 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—

(a) within 3 months following receipt of that information, or

(b) if later, on or before the date specified in paragraph (4) or (where the relevant tax year is 2011-12) paragraph (5).

(7) Where—

(a) the member meets the conditions in paragraph (1)(a) and (b), and

(b) 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).

(8) The conditions referred to in paragraph (1) are as follows.

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)(1) 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)(2) is not met in respect of the pension input amount for the relevant pension input period.

Annual allowance: provision of information by scheme administrator to member on request

14B.— (1) Where a member or former member (“the member”) of a registered pension scheme makes a written request to the scheme administrator of that scheme for any such information in respect of a pension input period ending in a tax year (“the relevant pension input period”) as is referred to in regulations 14A(2) or (7), the scheme administrator must provide the member with the information requested—

(a) within 3 months following receipt of the request, or

(b) if later, on or before 6th October following the tax year (“the relevant tax year”) in which the relevant pension input period ended.

This paragraph is subject to paragraphs (2) and (3).

(2) Where the relevant tax year is 2011-12, the scheme administrator must provide the member with the information requested under paragraph (1) for that tax year no later than 6th October 2013.

(3) 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 regulation 15A information”), the scheme administrator must provide the information requested under paragraph (1)—

(a) within 3 months following receipt of the regulation 15A information, or

(b) if later, on or before—

(i) 6th October following the relevant tax year, or

(ii) where the relevant tax year is 2011-12, the 6th October 2013.”.

(1)

Subsection (5B) was inserted into section 230 of the Finance Act 2004 by paragraph 7 of Schedule 17 to the Finance Act 2011.

(2)

Subsection (5B) was inserted into section 234 of the Finance Act 2004 by paragraph 10 of Schedule 17 to the Finance Act 2011.