RPSM02306030 - Scheme Administrator Pages: Registering a pension scheme with HMRC: Scheme administrator's role in the registration process: Registering a scheme on or after 6 April 2006: what are the qualifying conditions for registration?

Registering a scheme on or after 6 April 2006: what are the qualifying conditions for registration?

For a pension scheme to be registered with HMRC between 6 April 2006 and 5 April 2007, it had to have been set up by one of the following

• an employer - in respect of an occupational pension scheme for its own or any other employees
• more than one employer - collectively in respect of an occupational pension scheme for their own or any other employees
• a Government Department or Minister, or a UK Parliamentary body
• an insurance company 
• a unit trust scheme manager 
• an operator, trustee or depository of a recognised European Economic Area (EEA) collective investment scheme
• an authorised open-ended investment company 
• a building society 
• a bank 
• a European Economic Area (EEA) investment portfolio manager. 

The pension scheme had to have a scheme administrator.

The application had to be made by the scheme administrator. In making the online application, the scheme administrator had to make certain required declarations to HMRC. (See RPSM02306040).

From 6 April 2007

The rules on who can establish a registered pension scheme that is not an occupational pension scheme were changed with effect from 6 April 2007. Non-occupational pension schemes applying for registration with HMRC on or after that date must be established by a person with permission from the Financial Services Authority (FSA) under the Financial Services and Markets Act 2000 to establish in the UK a personal pension scheme or a stakeholder pension scheme.

There was no change to the rules on who can establish a registered pension scheme that is an occupational pension scheme (an employer, or employers, see first two bullet points above) or a public service pension scheme (see third bullet above).

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) was amended by SI 2006/1969 to widen the regulated activity relating to stakeholder pension schemes so that it extends to all personal pension.