RPSM11103120 - Technical Pages: Lifetime allowance: The process for testing: In member's lifetime: At or before BCE: Responsibility of the scheme administrator

Responsibility of the scheme administrator at a BCE

[s217][s254][The Registered Pension Schemes (Accounting and Assessment) Regulations 2005 SI 2005/3454 ][Regs 11 and 13The Registered Pension Schemes (Provision of Information) Regulations 2006 SI 2006/567] 

The scheme administrator has three basic responsibilities before, at and after a BCE occurs in the member’s lifetime

• establishing whether or not a chargeable amount arises at the BCE (see RPSM11103130),
• accounting to HMRC for the lifetime allowance charge due on any chargeable amount that arises at the BCE (on a quarterly basis)(see RPSM11105320), and
• providing the member after the BCE with
• a statement confirming the total level of the member’s lifetime allowance that has been used up under the scheme, expressed as a percentage of the standard lifetime allowance (see RPSM11103320), and
• if a chargeable amount has arisen, a notice confirming the level of chargeable amount that arose at the BCE and the lifetime allowance charge due on this amount (and whether they have accounted for the due charge, or intend to do so in due course)(see RPSM11103310).