RPSM12309020 - Scheme Administrator Pages: Information requirements and Administration: Information the scheme member is required to give to the scheme administrator: Recycling of lump sum
| Regulation 11A, The Registered Pension Schemes (Provision of Information) Regulations 2006 [SI 2006/567] [inserted by SI 2006/1961] |
From 11 August 2006 a scheme member whose pension commencement lump sum is an unauthorised member payment due to recycling must inform the scheme administrator of the registered pension scheme that paid the pension commencement lump sum.
Information that the member should provide to the scheme administrator
The member must notify the scheme administrator of the date that the pension commencement lump sum has been treated as unauthorised payment and the amount treated as the unauthorised payment.
Time limit for the information to be provided to the scheme administrator
The notification must be given within 30 days of the date of the deemed unauthorised payment when that date is on or after 11 August 2006. The unauthorised payment is deemed to occur when all the conditions for the recycling rule to apply are met.
More detailed guidance about the recycling rule conditions and when they apply is at RPSM04104900.
| Glossary (RPSM20000000) |
