The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pensions Schemes and Corresponding Relief) Regulations 2006

[F1 [F2 Passing-on by member of information under regulation 3AA if active or contributing etc U.K.

3AB.— (1) Paragraphs (2) and (3) apply if—

(a) an individual receives a statement under regulation 3AA from the scheme manager of a QROPS or former QROPS (the “flexed scheme”); and

(b) on the date of the relevant event concerned, or at any later time, the individual is an accruing member of—

(i) the flexed scheme;

(ii) a relevant non-UK scheme which is a QROPS or former QROPS other than the flexed scheme; or

(iii) a registered pension scheme,

and in this regulation “other relevant scheme” is a scheme mentioned in sub-paragraphs (ii) and (iii).

(2) The individual must before the end of the relevant period—

(a) pass on a copy of the statement; or

(b) otherwise give notice—

(i) of receipt of the statement; and

(ii) of the date of the relevant event concerned or (if applicable) of its having occurred more than 2 years before the start of the relevant period,

to the scheme manager or scheme administrator (as the case may be) of each other relevant scheme of which the individual is an accruing member on any day in the intervening period.

(3) Where, in the case of a particular scheme which is any other relevant scheme, the individual is not an accruing member of that other scheme on any day in the intervening period but becomes an accruing member of that scheme on a day (“the activation day”) after the last day of that period, the individual must before the end of the 91 days beginning with the activation day—

(a) pass on a copy of the statement; or

(b) otherwise give notice—

(i) of receipt of the statement; and

(ii) of the date of the relevant event concerned or (if applicable) of its having occurred more than 2 years before the activation day,

to the scheme manager or scheme administrator (as the case may be) of that other relevant scheme; but this is subject to paragraph (4).

(4) Paragraph (3) does not apply in connection with the individual becoming an accruing member of any particular scheme if the individual becomes an accruing member of that scheme upon or after becoming a member of that scheme [F3 as a result of—

(a) a transfer of the member's relevant transfer fund,

(b) a transfer of any of the member's ring-fenced transfer funds, or

(c) a recognised transfer,

after the date of the relevant event concerned.]

(5) For the purposes of this regulation, the individual is an accruing member of a pension scheme on any particular day if—

(a) the individual is an active member of the scheme on that day as a result of there presently being arrangements for the accrual of benefits to or in respect of the individual under a cash balance arrangement or hybrid arrangement; or

(b) a relevant contribution is made under the scheme on that day.

(6) For the purposes of this regulation, a relevant contribution is made under a scheme if—

(a) a relievable pension contribution is paid by or on behalf of the individual under a non-cash-balance money purchase arrangement relating to the individual under the scheme;

(b) a contribution is paid in respect of the individual by an employer of the individual under a non-cash-balance money purchase arrangement relating to the individual under the scheme; or

(c) a contribution—

(i) paid under the scheme by an employer of the individual; and

(ii) paid otherwise than in respect of any individual,

becomes held for the purposes of a non-cash-balance money purchase arrangement relating to the individual under the scheme,

and in this paragraph “non-cash-balance money purchase arrangement” means a money purchase arrangement other than a cash balance arrangement.

(7) In this regulation—

“the relevant period” means the period of 91 days beginning with—

(a)

the date of receipt of the statement if the individual is an accruing member of the flexed scheme or any other relevant scheme on any day in the period—

(i)

beginning with the date of the relevant event concerned; and

(ii)

ending with the date of receipt; or

(b)

if not, the first day after the date of receipt when the individual is an accruing member of such a scheme; and

“the intervening period” means the period—

(a)

beginning with the date of the relevant event concerned; and

(b)

ending with the first day of the relevant period.]]

Textual Amendments

F1 Regs. 3A-3C inserted (6.4.2012) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 9

F2 Regs. 3AA-3AD inserted (6.4.2015) by The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2015 (S.I. 2015/673), regs. 1, 5

F3 Words in reg. 3AB(4) substituted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(8) (with Sch. 4 para. 22(15))