RPSM02302040 - Scheme administrator pages: Registering a pension scheme with HMRC: who is the scheme administrator? Deferred annuity contracts (including assigned policies) made on or after 6 April 2006
Deferred annuity contracts (including assigned policies) made on or after 6 April 2006
A contract or policy is automatically treated by HMRC as a registered pension scheme from the date it is set up (or assigned), where
- funds are transferred to the policy or contract (or the policy is assigned to the scheme member) on or after 6 April 2006, and
- the funds or policy came from a registered pension scheme.
It does not have to apply for registration. However, there must be a scheme administrator, who is subject to the same rules as scheme administrators of pension schemes which have been formally registered. This means that the scheme administrator must
- be resident in one of the following countries
- the United Kingdom (UK),
- another EU member state,
- another state in the European Economic Area (EEA) (that is Norway, Liechtenstein or Iceland), and
- make certain declarations to HMRC in respect of each relevant deferred annuity contact, using Pension Schemes Online (see RPSM02306150 for details of the process).
If no scheme administrator has been formally appointed, HMRC regards the person who controls the management of the pension scheme (policy or contract) as the scheme administrator of that scheme.
| Glossary ( RPSM20000000) |
