RPSM12301085 - Scheme Administrator Pages: Information requirements and administration: Information the scheme administrator is required to provide to HMRC: The Event Report: Events 15 & 17

Reportable fund movements: 2008-09 to 2010-11 events 15 and 17

[Reg. 3 The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567] 

Reportable event 15: Alternatively secured pension
Reportable event 17: Lump sum payment after the death of a member aged 75 or over

Guidance on reportable events 15 to 17 for tax years before 6 April 2008 can be found in the archived version of RPSM held on the National Archives website (http://webarchive.nationalarchives.gov.uk/*/http://hmrc.gov.uk/manuals/rpsmmanual/RPSM12301010.htm).

Reportable event 16 ceased to exist for event reports 2008-09 onwards

Reportable events 15 and 17 ceased to exist on event reports 2011-12 onwards. (Although these events may still appear as an option on Pension Schemes Online for the 2011-12 event report they should not be reported on event reports for tax year 2011-12 onwards.)

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Reportable event 15: Alternatively secured pension

Reportable event 15 occurs when either a member or dependant goes into alternatively secured pension. There are two tests depending on if the individual is receiving pension as a member or as a dependant.

Members

This event occurs 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).

Dependants

Reportable event 15 also occurs 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.

The information that needs to be provided for this event is the number of individuals 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.

It is not possible for reportable event 15 to occur from 6 April 2011 as alternatively secured pension ceased on that date. From 6 April 2011 an individual would go into a form of drawdown pension.

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Reportable event 17: Lump sum payment after the death of a member aged 75 or over

Reportable event 17 occurs when a lump sum payment is made in respect of a member after the member has died aged 75 or over.

A report is not due under reportable event 17 where

• The payment is an unauthorised payment - as so reportable under event 1 (see RPSM12301060), or
• A life cover lump sum (see RPSM10105440).

The information that should be provided on the event report for reportable event 17 is

• the name of the deceased member
• their National Insurance number
• the name of the person to whom the lump sum payment was made
• that person's National Insurance number
• the amount of the payment
• the date of the payment, and
• the nature of the payment.

See RPSM12301050 for what to do if the scheme administrator is not given the individuals’ National Insurance numbers.

This event ceases to be reportable for lump sums paid on or after 6 April 2011.