| [s158(2) to (4)] |
A scheme may be de-registered if the
scheme chargeable payments made in any 12 month
period are more than the de-registration threshold.
The de-registration threshold is exceeded when the scheme
chargeable payments percentage is 25% or more.
Every time a scheme chargeable payment is made it is valued
as a percentage of the pension fund using the following formula
(SCP/AA) x 100
SCP = the amount of the scheme chargeable payment
AA = the market value of the scheme assets plus the amount of any sums (cash) held by the scheme at the time the scheme chargeable payment was made.
Where in a 12 month period the total of the percentages of the
fund used up by each scheme chargeable payment is 25% or more the
de-registration threshold has been exceeded, and the scheme may be
de-registered.
RPSM04105040 gives an example.
| Glossary ( RPSM20000000) |
