Citation, commencement and effect

1. —(1) These Regulations may be cited as the Registered Pension Schemes (Provision of Information) (Amendment) (No.2) Regulations 2011 and come into force on 11th August 2011.

(2) The amendments in regulation 4(3) and (9), and regulation 6 have effect for the tax year 2012-13 and subsequent years.

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

2.The Registered Pension Schemes (Provision of Information) Regulations 2006( 3 ) are amended as follows.

3. —(1) Regulation 2 (interpretation) is amended as follows.

(2) In paragraph (1)—

(a) in the definition of “associated company”, for “section 416 of ICTA( 4 )”, substitute “section 449 of the Corporation Tax Act 2010( 5 )”,

(b) in the definition of “director”, for “section 417 of ICTA”, substitute “section 67 of ITEPA 2003( 6 )”, and

(c) after the definition of “event report” insert—

“ “fixed protection” means transitional protection provided for under paragraph 14 of Schedule 18 to the Finance Act 2011 ( 7 ) ; ” .

(3) In paragraph (2), for “section 839 of ICTA”, substitute “section 993 of ITA 2007( 8 )”.

4. —(1) The table appended to Regulation 3(1) (provision of information by scheme administrators to the Commissioners) is amended as follows.

(2) In the second column of entry 1 (unauthorised payments)( 9 ), in sub paragraph (c), for “HMRC” substitute “the Commissioners”.

(3) In entry 6 (benefit crystallisation events and enhanced lifetime allowance or enhanced protection)—

(a) for the heading substitute—

“ Benefit crystallisation events and enhanced lifetime allowance, enhanced protection or fixed protection ” ,

(b) in the first column, for paragraph (b) substitute—

“ (b) in order to reduce or eliminate liability to the lifetime allowance charge the member relies on entitlement to—

(i) an enhanced lifetime allowance,

(ii) enhanced protection, or

(iii) fixed protection. ” , and

(c) for the entry in the second column, substitute—

“ The name and national insurance number of the member, the amount crystallised by the event, the date of the event and the reference number given by the Commissioners under —

(a) the Registered Pension Schemes (Enhanced Lifetime Allowance) Regulations 2006 ( 10 ) (where the member relies on an enhanced lifetime allowance or enhanced protection), or

(b) the Registered Pension Schemes (Lifetime Allowance Transitional Protection) Regulations 2011 ( 11 ) (where the member relies on fixed protection). ” .

(4) In entry 7 (pension commencement lump sum), for the text in column 1 substitute—

“ The scheme makes a pension commencement lump sum payment to a member which—

(a) exceeds 25% of the amount found by adding the amount of the payment to the entitlement amount; and

(b) is more than 7.5%, but less than 25%, of the standard lifetime allowance for the tax year in which the sum is paid.

For the purposes of this reportable event, “the entitlement amount” is—

(i) the amount crystallised by reason of the member becoming entitled to the pension with which the lump sum payment is associated, or

(ii) where a benefit crystallisation event did not occur by reason of the member becoming entitled to the pension with which the lump sum payment is associated, the amount that would have been so crystallised if the member had been under the age of 75 at the date the entitlement arose. ” ;

(5) In the second column of entry 7, for the words in paragraph (b), substitute “the entitlement amount”.

(6) In the second column of entry 9 (transfers to qualifying recognised overseas pension schemes), in paragraph (a), after “country” insert “or territory” and for “located” substitute “situated”.

(7) Omit entries 15 (alternatively secured pension) and 17 (lump sum payment after the death of a member aged 75 or over).

(8) In entry 18 (scheme chargeable payment), in column 1 omit “section 181A (alternatively secured pensions: minimum level of payment);”.

(9) After entry 20 (occupational pension scheme) insert—

5. After regulation 5A( 13 ) (unauthorised borrowing: provision of information by scheme administrator to the Commissioners) insert—

“ Minimum income requirement: provision of information by scheme administrator to the Commissioners for the tax year 2011-12

5B. —(1) Where section 165(3A) or 167(2A) of the Finance Act 2004 applies to an arrangement (“the specified arrangement”) the scheme administrator shall provide the information specified in paragraph (2) in the form of a written report.

(2) The information required is—

(a) the name of the member or dependant (“the member”) who meets the flexible drawdown conditions and the member’s national insurance number or alternative number obtained in accordance with the procedure described in regulation 3(2) ( 14 ) (provision of information by scheme administrator to the Commissioners),

(b) the country or territory where the member’s sole or main address was situated on the date the declaration under section 165(3A)(b) or 167(2A)(b) was made in respect of the specified arrangement, and

(c) the total amount of drawdown pension paid to the member under the specified arrangement for the tax year 2011-12.

(3) The information shall be provided to the Commissioners no later than the 31st January 2013. ” .

6. For regulation 11 (information provided by member to scheme administrator: enhanced lifetime allowance) substitute—

“ Information provided by member to scheme administrator: enhanced lifetime allowance, enhanced protection or fixed protection

11. If the member of a registered pension scheme intends to rely on entitlement to—

(a) an enhanced lifetime allowance or enhanced protection by virtue of any provisions listed in section 256(1) ( 15 ) , or

(b) fixed protection by virtue of paragraph 14 of Schedule 18 to the Finance Act 2011,

the member must give to the scheme administrator the reference number issued by the Commissioners under the Registered Pension Schemes (Enhanced Lifetime Allowance) Regulations 2006 or the Registered Pension Schemes (Lifetime Allowance Transitional Protection) Regulations 2011 in respect of that entitlement. ” .

7. In regulation 14 (information provided to members by scheme administrators about benefit crystallisation events), after paragraph (2)(b) insert—

“ (ba) under paragraph (1)(a) in a tax year following the tax year in which the member reaches the age of 75; ” .

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) ( 16 ) 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) ( 17 ) 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. ” .

9. After regulation 15 (information between scheme administrators) insert—

“ Annual allowance: information to be provided to scheme administrators by certain persons

15A. —(1) Where—

(a) an employer is a sponsoring employer of a registered pension scheme, and

(b) an employee of that employer or a director is an active member of that scheme in relation to an arrangement under the scheme (“the arrangement”) for all or part of a pension input period ending in a tax year,

the employer must provide to the scheme administrator such information as will enable the scheme administrator to calculate the pension input amount in respect of the arrangement for the pension input period ending in that tax year.

(2) The information must be provided to the scheme administrator no later than the 6th July following the tax year in which the pension input period ends. This paragraph is subject to paragraph (3).

(3) Where the pension input period ends in the tax year 2011-12, the employer must provide the information relating to the pension input period no later than 6th July 2013.

(4) The employer must provide to the scheme administrator such information as will enable the scheme administrator to calculate the pension input amount for any of the pension input periods ending in the tax years 2008-09, 2009-10 and 2010-11, within 3 months following receipt of a written request from the scheme administrator or (if later) on or before 6th July 2013.

(5) Where—

(a) regulation 14A(7) applies to a scheme administrator (obligation to provide information to a member where there is a straddling pension input period), and

(b) a written request is made by the scheme administrator to the employer,

the employer must provide the scheme administrator with such information as will enable the scheme administrator to comply with the obligation contained in regulation 14A(7), such information to be supplied within three months of receipt of the written request or, (if later) on or before 6th July 2013.

(6) The obligations contained in this regulation shall apply to a responsible person (see paragraph (7)) and for the purposes of applying this regulation to the responsible person, references to “employer” shall be read as referring to the responsible person.

(7) For the purposes of this regulation “responsible person” means a person who is responsible for providing the scheme administrator of a registered pension scheme with such information as will enable the scheme administrator to calculate the pension input amount in respect of a member where the member is an active member of that scheme in relation to an arrangement under the scheme for all or part of a pension input period ending in a tax year. ”

10. In regulation 16 (pensions and annuities in payment: information provided to and by insurance companies)—

(a) in paragraph (1) for “an unsecured pension” substitute “a drawdown pension”; and

(b) after paragraph (3) insert—

“ (4) No obligation to provide a statement arises—

(a) under paragraph (2) in respect of any entitlement to a pension or annuity or pension commencement lump sum which does not give rise to a benefit crystallisation event;

(b) under paragraph (3) in a tax year following the tax year in which the member reaches the age of 75. ” .

11. In the heading above regulation 17 (payments to insurance companies from unsecured pension funds), for “unsecured pension” substitute “drawdown pension”.

12. In regulation 17—

(a) in paragraph (1) for “an unsecured pension” substitute “a drawdown pension”,

(b) in paragraphs (2) and (4) for “unsecured pension” substitute “drawdown pension”,

(c) after paragraph (7) insert—

“ (8) No obligation to provide a statement arises under paragraph (3) or (6) in a tax year following the tax year in which the pensioner or annuitant reaches the age of 75. ” .