RPSM12301105 - Scheme Administrator Pages: Information requirements and administration: Information the scheme administrator is required to provide to HMRC: The Event Report: Event number 8A - Stand-alone lump sums

Event number 8A - Stand-alone lump sums

[Reg. 3 The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567 as amended by SI 2006/1961 and The Registered Pension Schemes (Provision of Information)(Amendment) Regulations 2008 - SI 2008/720] 

Reportable event

Event number 8A relates to the payment of stand-alone lump sums.

A reportable event 8A occurs for a stand-alone lump sum where:

• the lump sum is paid to a member who has either primary or enhanced protection and had lump sum rights of more than £375,000 on 5 April 2006,

or,

• the lump sum is paid to a member with lump sum rights that are protected on a scheme specific basis and that lump sum is greater than 7.5% of the standard lifetime allowance for the year n which the lump sum is paid.

Information required

The information that must be provided on the event report for reportable event 8A is

• the name of the member
• their National Insurance number
• the amount of the payment
• the date of payment and
• where the lump sum is a stand-alone lump sum because the member has enhanced or primary protection with protection of lump sum rights of more than £375,000, the reference number given by HM Revenue & Customs under the Registered Pension Schemes (Enhanced Lifetime Allowance) Regulations 2006 [SI 2006/131].

See RPSM12301295 for what to do if the individual does not give the scheme administrator their National Insurance number.

What the event report looks like on Pension Schemes Online

Event report summary page 

Having brought the event report summary page up, click on ‘Go to reportable fund movements’ on the right hand side of the screen. This brings up the following screen.

Event report page for reportable fund movements.

If the report is due under the first bullet point above (enhanced or primary protection) use the link to ‘event numbers 8 & 8A’.

If the report is due under the second bullet point above (scheme specific protection) use the link to ‘event numbers 7 & 8A’.

Pension Schemes Online uses the same screens for reportable event 8A as for reportable events 7 and 8. These screens have a validation rule that requires an amount to be entered for a pension crystallisation, and £0 is not accepted. To be able to submit a report for a stand-alone lump sum you should enter £99 into the field that asks for the amount of pension crystallised.