RPSM07300060 - Scheme Administrator Pages: Investments: What is a wasting asset?

What is a wasting asset?

A wasting asset is an asset with a predictable life span of less than 50 years or plant and machinery. Examples of wasting assets would include all machinery such as cars whatever their ages.

If a member, or a member of their family or household is provided with use of a wasting asset owned by their pension scheme, in addition to the unauthorised payments charge on the member the scheme administrator will also be liable to a scheme sanction charge.