RPSM12301120 – Scheme Administrator Pages: Information Requirements and Administration: Information the scheme administrator is required to provide to HMRC: The Event Report: Event number 10 - Event Report filed before 11 August 2006: Ability of a member to control scheme assets

Event number 10 - Event Report filed before 11 August 2006: Ability of a member to control scheme assets

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

Reportable event

For Event Reports filed with HMRC before 11 August 2006, if any of the following events has taken place in the tax year to which the report relates, it must be included on the Event Report.

A member of the scheme, whether alone or with others, has either

• gained the ability to control the way in which scheme assets are used to provide pension benefits, or
• lost the ability to control the way in which scheme assets are used to provide pension benefits.

Information required

The scheme administrator must provide (as appropriate)

• the date on which at least one member becomes able to exercise control where none had been able to do so immediately before, or
• the date on which no member is able to exercise control, where at least one had been able to do so immediately before.

Exceptions

But an Event Report filed before 11 August 2006 is not required to include an Event 10 in respect of arrangements where

• all of the scheme assets comprise contracts or policies of insurance, units in unit trust schemes or shares in open-ended investment companies and
• in managing those investments the scheme administrator does not consult with any scheme member apart from that which is necessary as a result of the investment offering choices available to any person and
• under the arrangement, after the deduction of any expenses, all contributions paid are invested in deposits with deposit takers and
• the payment of interest on those deposits is the only income of the scheme derived from its investments.

From 11 August 2006

Events which fall within the category described above which occur on or after 11 August 2006 do not need to be reported to HMRC. The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961) replaced the Event 10 described above with a new Event 10 from 11 August 2006. For guidance on what Event 10 is from 11 August 2006 onwards, please see page RPSM12301125.