RPSM12301170 – Scheme Administrator Pages: Information Requirements and Administration: Information the scheme administrator is required to provide to HMRC: The Event Report: Event number 15 - Alternatively secured pension
Event number 15 - Alternatively secured pension
[Reg. 3 The Registered Pension Schemes (Provision of Information) Regulations2006 - SI 2006/567 as amended by The Registered Pension Schemes (Provision ofInformation)(Amendment) Regulations 2008 – SI 2008/720]Reportable event
The scheme administrator must make a report to HMRC when sums or assets in respect of one or more scheme members for the first time meet either condition A or B during the reporting year.
- A - the sums and assets
- were part of the member's unsecured pension fund in respect of the arrangement when the member reached age 75, or
- arise, or derive (whether directly or indirectly), from sums or assets which were part of the member's unsecured pension fund in respect of the arrangement when the member reached age 75, or which so arise or derive.
- B
- the sums and assets became held for the purposes of the arrangement after the member reached age 75, or arise, or derive (whether directly or indirectly), from sums or assets which became so held or which so arise or derive, or
- (where the arrangement became a money purchase arrangement after the member reached the age of 75 having previously been a hybrid arrangement where defined benefits could be payable (a 'relevant arrangement')) the sums and assets have at any time since the member reached age 75 been designated as available for the payment of an alternatively secured pension to the member , or arise, or derive (whether directly or indirectly), from sums or assets which have been so designated or which so arise or derive).
Further reportable event from 6 April 2008
In relation to tax years 2008/09 and subsequent tax years, the scheme administrator must make a report to HMRC when sums or assets in respect of one or more dependants of scheme members for the first time meet either condition A or B during the reporting year.
- A - the sums and assets
- were part of the dependant's unsecured pension fund in respect of the arrangement when the dependant reached age 75, or
- arise, or derive (whether directly or indirectly), from sums or assets which were part of the dependant’s unsecured pension fund in respect of the arrangement when the dependant reached age 75, or which so arise or derive.
- B
- the sums and assets have at any time since the dependant reached age 75 been designated as available for the payment of an alternatively secured pension to the dependant , or arise, or derive (whether directly or indirectly), from sums or assets which have been so designated or which so arise or derive.
Information required
The number of members (and from 6 April 2008 dependants) who, having met either condition A or B above for the first time during the reporting year, fall within each of the following bands in respect of the funds or assets held
- £1 - £50,000
- £50,001 - £100,000
- £100,001 - £250,000
- £250,001 - £500,000
- more than £500,000.
| Glossary RPSM20000000 |
