RPSM13101065 - Technical Pages: International: Migrant member relief: Record-keeping by qualifying overseas pension scheme

Record-keeping in respect of a relevant migrant member by a qualifying overseas pension scheme

Managers of money purchase arrangements will need to keep a record of UK tax-relieved contributions made to the arrangement in each tax year after 5 April 2006 by, on behalf of, each relevant migrant member. They will need also to keep a record of contributions made in those tax years in respect of each relevant migrant member by their employer. Managers of defined benefits arrangements and cash balance arrangements will need to keep a record of the increase in the value of each relevant migrant member's rights under the arrangement for each tax year in which they are a currently-relieved member of the scheme after 5 April 2006. They will need also to keep a record of UK tax-relieved contributions made in those tax years after 5 April 2006 by, or on behalf of, each such member (excluding employer contributions). Managers of hybrid arrangements will need also to keep such records, based on whichever type of benefit determines the relevant migrant member's pension input amount in a tax year (see RPSM13102380).

Relevant migrant members will need to know the amount of contributions made, or of the subsequent accrual of rights, after 5 April 2006 in order to determine whether they are liable to a member payment charge, annual allowance charge, or lifetime allowance charge (see RPSM13102000 onwards for more information). Those charges are determined by reference to a relevant migrant member’s pension input amounts. RPSM13102350 to RPSM13102380 sets out how pension input amounts are calculated under the different types of arrangement.