Recent updates to the Registered Pension Schemes Manual

Below are details of the amendments that were published on 30 August 2006 (see the update index for all updates)

New sections
Deleted Sections
Updated Sections

Click here to return to topNew sections

Section

Title and details of update

RPSM03

Protecting pension rights from tax charges
RPSM03100080
to RPSM03100100		New pages – to give overview of forms of protection other than enhanced or primary protection.
RPSM03105000 to RPSM0310630New sub section giving details on the process individuals should follow when notifying HMRC of their right to protection.
RPSM03101085New page on the valuation of insurance policies
RPSM03101091New page on the classification of certain RAC contracts sold in 1970s
RPSM03101531New page showing maximum permitted pension – previously part of RPSM03101530
RPSM03101532New page showing the change to maximum permitted pension under FA 2006
RPSM03101551New page showing PN print 1 October 1974
RPSM03102040New page to show the effect of a pension debit on the rights protected by primary protection
RPSM03102050 to RPSM03102060New pages for Articles 9 to 11 SI 2006/572
RPSM03103030New page showing the effect of pension debits for an individual with enhanced protection
RPSM03104001New index page
RPSM03104032New page on how excess rights can be surrendered before an individual notifies their right to enhanced protection
RPSM03104061New page covering what happens when an individual with enhanced protection receives a pension credit
RPSM03104065New index page
RPSM03104092New page giving examples of transfers that are not permitted transfers
RPSM03104095New page on how setting up a new arrangement causes loss of enhanced protection
RPSM03104097New page on impermissible transfers – was previously RPSM03104091
RPSM03104500New index page
RPSM03104505New page giving an introduction to relevant benefit accrual
RPSM03104511New page on how compensation payments affect enhanced protection
RPSM03104515New page explaining how relevant benefit accrual for hybrid arrangements works
RPSM03104521 to RPSM03104525New pages providing further guidance on how the relevant benefit accrual test for defined benefits or cash balance arrangements works
RPSM03104531 to RPSM03104532New pages on how the earnings recalculation version of the appropriate limit works.
RPSM03105001New index page
RPSM03105030New index page
RPSM03105111New page with a new example of how to value lump sum rights
RPSM03105135New index page
RPSM03105139New page to make it clear what form of lump sum protection the sub-section of the guidance covers
RPSM03105145New page on notification of lump sum rights with primary protection – was previously RPSM03105030
RPSM03105155New page for Article 25 SI 2006/572 and primary protection
RPSM03105156New page - example of a stand-alone lump sum paid under primary protection
RPSM03105181 to RPSM03105182New pages for unauthorised lump sum payments with primary protection
RPSM03105185New index page
RPSM03105189New page to make it clear what form of lump sum protection the sub-section of the guidance covers
RPSM03105201New page on how the notification of lump sum rights with enhanced protection works (was previously part of RPSM03105200)
RPSM03105202New page for Article 25 SI 2006/572 and enhanced protection
RPSM03105211New page with a new example of how to pay lump sums of more than £375,000 with enhanced protection
RPSM03105500New index page
RPSM03105515New page on general overview of issues with protection of lump sums of more than 25%
RPSM03105521New page for SI 2006/498 and further guidance on what is a block transfer
RPSM03105522New page outlining the problem with putting more than one set of protected lump sums of more than 25% in the same scheme for the same member
RPSM03105529New page outlining the 3 step valuation process for lump sums of more than 25%
RPSM03105561 to RPSM03105562New pages with new examples of how to value lump sum rights of more than 25% where the lump sum is more than HMRC limits
RPSM03105595New page showing the legal definitions of how to pay lump sums of more than 25% where there has been relevant benefit accrual
RPSM03105612New page with an example of how to pay lump sums of more than 25% where there has been relevant benefit accrual in a DB arrangement
RPSM03105630New page for where the amount of the protected lump sum is less than 25%
RPSM03105640 to RPSM03105642New pages for stand-alone lump sums
RPSM03105650 to RPSM03105660New pages showing the effect of a partial transfer on protection of lump sums of more than 25%
RPSM03106025New page clarifying what is meant by an unqualified right to take benefits
RPSM03106035New page for SI 2005/3451
RPSM03106062 to RPSM03106065New pages covering the changes to the protection of low pension ages as per FA 2006
RPSM03106072New page showing the provisions of Articles 13 to 16 of SI 2006/573
RPSM03106090 to RPSM03106100New pages with examples of how the reduction of the lifetime allowance for an individuals with a low protected pension age works
RPSM03106110 to RPSM03106130New pages showing the provisions of Articles 2 to 12 of SI 2006/573
RPSM03108015New page making it clear that individuals claiming primary protection cannot make a separate claim for pension credits
RPSM03109022 to RPSM03109026New pages covering the changes to the protection of death benefits as per the FA 2006
RPSM03109040 to RPSM03109120New pages covering the changes to the protection of death benefits as per the FA 2006
RPSM03110250New page showing new PN 16.55a announced with Update 159
RPSM03111000 to RPSM03111040New subsection covering pipeline lump sum payments under Articles 38 to 41 of SI 2006/572
RPSM03200060New Page - to cover the situation where all benefits are in payment pre A Day
RPSM03201021New Page - to show when the level of primary protection may change
RPSM03201031New Page - on relevant benefit accrual
RPSM03201032New Page - on what happens if enhanced protection lost or given up
RPSM03201041New Page - to cover protection of lump sums over £375K with primary protection
RPSM03201042New Page - to cover protection of lump sums over £375K with enhanced protection
RPSM03201061New Page - amount of lump sum allowed under scheme specific lump sum protection
RPSM03201081New Page - on conditions for protection of low pension age
RPSM03201082New Page - on employment condition for protected age less than 50
RPSM03201083New Page - on employment condition for protected age 50 - 54
RPSM03202051New Page - what happens if late notification made
RPSM03202061New Page - to show what happens when you apply for both primary and enhanced protection
RPSM03202062New Page - how to let the scheme administrator see a copy of the individual's certificate
RPSM03202063New Page - what happens if HMRC won't issue a certificate
RPSM03203040New Page - on what happens if you have a pension debit
RPSM03203050New Page - on amending you notification if you find the info given to HMRC was incorrect
RPSM03300050New Page - on how will a scheme administrator know if the member has protection
RPSM03301005New Page - what benefits are classed as crystallised
RPSM03301027New Page - what benefits are classed as uncrystallised
RPSM03301028New Page - on 4 arrangement types
RPSM03301031New Page - example on valuing DB rights
RPSM03301041New Page - on valuing insurance policies
RPSM03301080New Page - maximum permitted pension for approved schemes and post 13/3/89 statutory schemes
RPSM03301090New Page - maximum permitted pension for pre 14/3/89 statutory schemes
RPSM03301100New Page - the maximum permitted pension and preservation
RPSM03301110New Page - what should a scheme administrator do if they have given an incorrect valuation
RPSM03302005New Page on the different types of lump sum protection
RPSM03302060 to RPSM03302080New pages of the maximum permitted lump sum
RPSM03302090New Page - when retained benefits should be included in the maximum permitted lump sum calculation
RPSM03302100 to RPSM03302120New pages with examples of lump sum valuations
RPSM03302130 to RSPM03302160New pages on valuing lump sum for scheme specific lump sum protection
RPSM03303021New Page - what happens if the member has not yet got their protection certificate
RPSM03303022New page - what happens if a scheme administrator realises there will be relevant benefit accrual
RPSM03303060New Page - on information needed for and how to pay lump sums under protection of lump sums of more than £375K with enhanced protection
RPSM03303061New Page - for stand-alone lump sum paid where the member has lump sums over £375K with enhanced protection
RPSM03303070New Page - on information that needs to be sent to HMRC after paying benefits
RPSM03303080New Page - on information that needs to be sent to the member after paying benefits
RPSM03303090New Page - on what the scheme administrator can do if they have provided incorrect information
RPSM03303100New page - on what records should be kept
RPSM03304061New Page - for stand-alone lump sum paid where the member has scheme specific lump sum protection
RPSM03304130New Page - on what the scheme administrator can do if they have provided incorrect information
RPSM03305011New Page - on information needed before benefits crystallise
RPSM03305031New Page - what happens if the member has not yet got their protection certificate
RPSM03305051New Page - to make clear that there are 3 options that may apply to lump sum payments for an individual with primary protection
RPSM03305052New Page - on how protection of lump sums over £375K with primary protection works
RPSM03305053New Page - on the information needed to pay lump sums using protection of lump sums over £375K with primary protection
RPSM03305054New Page - when a PCLS or stand-alone lump sum are not entirely tax free
RPSM03305070New Page - on information that needs to be sent to the member after paying benefits
RPSM03305080New Page - how the administrator should account for and pay any LTA charge due
RPSM03305090New Page - on what the scheme administrator can do if they have provided incorrect information
RPSM03305100New page - on what records should be kept
RPSM03307011New Page - information to be provided when paying death benefits
RPSM03307021 to RPSM03307024New pages with extra details on paying benefits using an enhanced lifetime allowance due to pre 6/4/06 pension credit rights
RPSM03307031 to RPSM03307039New pages with extra details on protected pension ages
RPSM03307050New page on payment of a lump sum death benefit in respect of the death of a member before 6/4/06
RPSM03307060New page on payment of a lump sum death benefit in respect of the death of a dependant of a member before 6/4/06
RPSM04Taxation
RPSM04102021New pages on authorised surplus payments
RPSM04102022New pages on authorised surplus payments
RPSM04102023New pages on authorised surplus payments
RPSM04102024New pages on authorised surplus payments
RPSM04102025New pages on authorised surplus payments
RPSM04102026New pages on authorised surplus payments
RPSM04102027New pages on authorised surplus payments
RPSM04104900New contents page in respect of recycling guidance
RPSM04104910New page: Overview of recycling
RPSM04104920New page: Establishing when the recycling rule applies
RPSM04104925New page: Establishing when the recycling rule applies (continued)
RPSM04104930New page: Pre-planning
RPSM04104940New page: Significant increase in contributions
RPSM04104950New page: Cumulative basis
RPSM04104960New page: Deemed unauthorised payment
RPSM04104970New page: Taxation of deemed unauthorised payment
RPSM04104980New page: Examples to illustrate when the recycling rule applies.
RPSM04104990New page: Examples to illustrate when the recycling rule does not apply.
RPSM04104995New page to cover international aspects of Q3 and Q5 in part 15 of the draft recycling guidance

RPSM05

Contributions and tax relief
RPSM05101045New page: In specie contributions
RPSM05102035New page: Employer contributions made in-specie
RPSM07Investments
RPSM07109000New chapter on taxable property
RPSM07200200New page
RPSM07300170New page
RPSM09Member benefits
RPSM09100171New page -Information about assignment of death benefits
RPSM09100172New page covering surrender of benefits/rights - removed from RPSM09100170
RPSM09100173New page covering deemed unauthorised member payments
RPSM09100174New page covering deemed unauthorised member payments
RPSM09100175New page covering deemed unauthorised member payments
RPSM10Death benefits
RPSM10104210New page
RPSM11Lifetime allowance
RPSM11104670New page added to explain procedure if member reaches age 75 but cannot be contacted
RPSM11300055new page added explaining how the lifetime allowance charge should be reported
RPSM11300100New page added to explain what happens if a member reaches age 75 and cannot be contacted
RPSM12Information requirements and Administration
RPSM12200032New page to cover Regulation 11B of the Registered Pension Schemes (Provision of Information) Regulations 2006 (as amended by SI 2006/1961)
RPSM12200035New page to inform members of reporting requirements in respect of recycling and associated penalty provisions.
RPSM12301105New page - Event 8A as introduced by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301125New page - Event 10 as described in The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301135New page - Event 11 as amended by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301155New page - Event 13 as amended by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301200New page - Event 18 as introduced by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301210New page - Event 19 as introduced by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301220New page - Event 20 as introduced by The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2006 (SI 2006/1961)
RPSM12301290New page covering the meaning of 'connected with' (section 839 ICTA 1988)
RPSM12303040New page to show the provisions of regulation 7 of the Registered Pension Schemes (Provision of Information) Regulation 2006 (SI 2006/567)
RPSM12306002New page to show the provisions of regulation 17 of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567)
RPSM12306004New page to show the provisions of regulation 17 of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567)
RPSM12306030New page to show the provisions of regulation 7 of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567)
RPSM12309000New subsection covering 'Information the member is required to provide to the scheme administrator'
RPSM12309010New page - regulation 11B of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567, as amended by SI 2006/1961)
RPSM12309020New page - regulation 11A of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567, as amended by SI 2006/1961)
RPSM12309030New page - regulation 11 of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567)
RPSM13International
RPSM13101042New page inserted- Example of application of residence condition for being a relevant member
RPSM13101045New page as a result of the Registered Pension Schemes (Extension of Migrant Member Relief) Draft Regulations
RPSM13102180New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102184New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102187New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102188New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102195New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102205New page as a result of the Pension Schemes (Applications of UK Provisions to Relevant Non UK Schemes) (Amendment) Draft Regulations
RPSM13102207New page re: lump sum paid from a relevant non Uk scheme
RPSM13102208new page re; determining if any unauthorised payment charges arises where lump sum paid.
RPSM14Transfers
RPSM14101100New page consequential to the Registered Pension Schemes (Authorised payments) (Transfers to the PPF) Regulations 2006 (SI 2006/134)
RPSM14106055New page added - "Transfers of pensions in payment"
RPSM14106060Additional page re: transfer of crystallised rights to a QROPS.
RPSM14107015New page added to explain that a retirement annuity contract can only accept a transfer from another retirement annuity contract
RPSM14107060New page as a result of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567) - information requirements on transfer

Click here to return to topDeleted Sections

Section

Title and details of update

RPSM03

Protecting pension rights from tax charges
RPSM03104091Page moved and renumbered into RPSM03104097
RPSM03109510 to RPSM0310580Pages removed – section has been rewritten following FB 06 proposals and pages renumbered RPSM03109040 to RPSM03109070
RPSM03306000 to RPSM03306030Pages removed, this lump sum protection now incorporated into the sections on paying benefits with primary or enhanced protection
RPSM04Taxation
RPSM04300050 to RPSM04300100Pages removed as the content was not relevant to this chapter.

RPSM05

Contributions and tax relief
RPSM05302060Page removed as the content was not relevant to this chapter
RPSM09Member benefits
RPSM09104170This page addressed a certification requirement exclusive to the previous tax regime. In hindsight it was thought such aspects should not feature in the new regime guidance.
RPSM14Transfers
RPSM14205010Blank page had been included in original plan, but in events, no specific guidance on this point was needed
RPSM14206010Blank page had been included in original plan, but in events, no specific guidance on this point was needed

Click here to return to topUpdated Sections

03 Protecting pension rights from tax charges

Section

Title and details of update

RPSM01

About this manual
RPSM01000090Wording changed at request of DWP

RPSM02

Registering a pension scheme with HMRC
RPSM02101010Confirming that the registration date set by HMRC will not be retrospective
RPSM02101020Specifically stating that the registration date set by HMRC will not be retrospective
RPSM02102010Further details given about the proposed changes on who can establish a registered pension scheme
RPSM02105040Text amended to reflect provisions of the Registered Pension Schemes and Overseas Pension Schemes (Electronic Communication of Returns and Information) Regulations 2006 (SI 2006/570).
RPSM02201020Further details given about the proposed changes on who can establish a registered pension scheme
RPSM02202010Hyperlink revised
RPSM02300060Further details given about the proposed changes on who can establish a registered pension scheme
RPSM02300090Hyperlink removed
RPSM02302050Text amended to reflect provisions of the Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567). Extra comma deleted
RPSM02303020Position regarding NI contributions and non-registered pension schemes amended and cross reference to NI Manual provided.
RPSM02306030Further details given about the proposed changes on who can establish a registered pension scheme
RPSM02306050Confirming that the registration date set by HMRC will not be retrospective
RPSM02306080One hyperlink removed, one revised, SA process for tax refund to scheme mentioned here rather on linked page. Confirming that the registration date set by HMRC will not be retrospective
RPSM02306130Hyperlink amended
RPSM02307040Inadvertent reference to "unauthorised practitioner" in third, fifth and seventh bullets corrected to "an authorised practitioner"
RPSM02400050Hyperlink included
RPSM02401020Further details given about the proposed changes on who can establish a registered pension scheme

RPSM03

Protecting pension rights from tax charges
RPSM03100000Links to new pages inserted in contents list
RPSM03100010Links to new pages inserted in contents list
RPSM03100040legislative reference added, addition to show individuals can give up enhanced protection & new cross reference inserted
RPSM03100050legislative reference added, new cross reference inserted
RPSM03101000Links to new pages inserted in contents list
RPSM03101010legislative reference added, insertion to clarify that a SSAS pension in payment under annuity purchase deferral rules is a crystallised right
RPSM03101020Legislative reference added, clarification of what is meant by annual rate.
RPSM03101030legislative reference added, clarification that rights under a scheme treated by HMRC as if it were a statutory scheme may be protected
RPSM03101040legislative reference added, clarification that the page also covers income drawdown form personal pension schemes
RPSM03101050legislative reference added, clarification of how the entitlement to uncrystallised rights under a retirement benefits scheme or deferred annuity contract should be calculated when retained benefits can be ignored
RPSM03101060legislative reference added, clarification that rights under a scheme treated by HMRC as if it were a statutory scheme may be protected
RPSM03101070legislative reference added
RPSM03101080legislative reference added, clarification on the assumption on age that needs to be made when calculating an individual's entitlement under a cash balance arrangement
RPSM03101090legislative reference added, clarification on the assumption on age that needs to be made when calculating an individual's entitlement under a DB arrangement
RPSM03101100legislative reference added
RPSM03101510legislative reference added
RPSM03101520legislative reference added, clarification to show that rights under a scheme treated by HMRC as if it were a statutory scheme count towards MPP
RPSM03101530Page title amended, legislative reference added, deletion of second half of the page relating to what is MPP. Insertion of links to 2 new pages RPSM03101531 and RPSM03101532 containing the revised definitions of MPP
RPSM03101540Page title amended
RPSM03101550Page title amended, deletion of text of PN first edition (this has been moved to RPSM03101551) and insertion of links to pages containing PN extracts
RPSM03101560Revised title showing PN publication date. Correction to PN text and which schemes it applies to
RPSM03101570Revised title showing PN publication date. Correction to PN text and which schemes it applies to
RPSM03101580Page title amended
RPSM03102000Links to new pages inserted in contents list
RPSM03102010legislative reference added, reference to death benefits changed due to FA 2006 change & new hyperlink to new sub section on how to notify HMRC of protection
RPSM03102020legislative reference added
RPSM03103000Link to new page inserted in contents list
RPSM03103010legislative reference added
RPSM03103020legislative reference added
RPSM03104000This section now split into 3 sub-section and contents list amended accordingly
RPSM03104020legislative reference added, amendment to make it clear notifications cannot be made before 6/4/09, hyperlink to new sub-section on notifications
RPSM03104030legislative reference added, link to new page on surrendering excess benefits added
RPSM03104040legislative reference added
RPSM03104050legislative reference added
RPSM03104060legislative reference added, amendment to show individuals can give up enhanced protection
RPSM03104070legislative reference added, amendment to show individuals can give up enhanced protection
RPSM03104080legislative reference added, clarification to show there are 2 different relevant benefit accrual test and the type used depends on the type of arrangement
RPSM03104090Legal references added, addition for Article 35 SI 2006/572, amendment of error in para 1 (all assets in a scheme - not arrangement- must xfer) & clarification of requirements for xfering to a DB or CB arrangement, a transfer to more than one money purchase scheme can be a permitted transfer if transfers take place at the same time & clarification that someone with enhanced protection will not lose this due to a reduction in pension rights following pension sharing
RPSM03104100legislative ref added, clarification on what happens to any lump sums protection on loss of enhanced protection
RPSM03104120legislative ref added, amendment to show individuals can give up enhanced protection
RPSM03104510Legislative ref added, clarification on what payments to an other money purchase arrangement will not cause loss of protection and what will happen on the payment of a relevant consolidation contribution, amendment to advice of how compensation payment affect enhanced protection
RPSM03104520Legislative ref added, amendment made so page gives a more detailed general overview of how relevant benefit accrual in a DB or cash balance arrangement works
RPSM03104530legislative refs added, clarification of what date is used for calculating the earnings re-calculation value of the appropriate limit
RPSM03104540Flowchart replaced by text on when the post commencement earnings limit is used, with legal refs added
RPSM03104550Flowchart replaced with text describing the post commencement earnings limit for 1989 members, with legal refs added
RPSM03104560Flowchart replaced with text describing the post commencement earnings limit for pre 1989/uncapped members, with legal refs added
RPSM03104570Flowchart - changed to a flowchart that shows when relevant benefit accrual occurs
RPSM03104580Flowchart - changed to a flowchart that shows what earnings should be used for the earnings recalculation test
RPSM03104590Reference to SI 2006/130 inserted
RPSM03104600Reference to SI 2006/130 inserted
RPSM03105000This section has been split into 5 subsections to make identification of the different forms of lump sum protection easier. The contents page has been update to reflect this
RPSM03105010Amendment to clarify what type of lump sum protection there are and links to the relevant pages
RPSM03105020Page references in the flowchart amended
RPSM03105030Has become an index page. Previous text now on RPSM03105145
RPSM03105040Legislative ref added
RPSM03105050Legislative ref added, addition to make clear that valuing crystallised lump sums is only relevant when trying to establish if total lump sums are more than £375,000
RPSM03105060Legislative ref added, addition to make clear the value from an uncrystallised RAC is 25% regardless of what the previous right was & clarification of how the entitlement to uncrystallised lump sum rights under a retirement benefits scheme or deferred annuity contract should be calculated
RPSM03105070Legislative ref added, Addition for Article 28 SI 2006/572 & to make clear that funds that could not provide LS pre 6/4/06 e.g. protected rights and post 7/4/87 AVCs and funds that were not in the scheme cannot be included in the calculation of LS entitlement a/a 5/4/06. Clarification on the assumption on age that needs to be made when calculating an individual's entitlement to uncrystallised lump sum rights under a DB or cash balance arrangement & how the entitlement should be calculated.
RPSM03105080Legislative ref added, clarification that rights under a scheme treated by HMRC as if it were a statutory scheme may be protected
RPSM03105090Legislative ref added, clarification of when the N/NS a LS formula should apply
RPSM03105100Legislative ref added
RPSM03105110Correction to example as retained benefits should be taken into account
RPSM03105120Correction to example as retained benefits should be taken into account
RPSM03105130Amendment to the example to change the value of rights in the PP
RPSM03105140Legislative ref added, addition to show that a pension commencement lump sum can be paid with primary protection that is partially taxable
RPSM03105160Page title and example changed slightly to reflect the terms on SI 2006/2004 and stand-alone lump sums
RPSM03105170Amendment to example to clarify the principle being explained
RPSM03105180Clarification to show what type of lump sum the taxable lump sum actually is
RPSM03105190Legislative refs added, amendment to show form number for protection notification & that e-filing is not yet available
RPSM03105200Part of text moved to become RPSM03105201. Addition to make it clear that lump sum protection works on a use it or lose it basis. Also individual does not need to have available lifetime allowance. Addition for stand-alone lump sums.
RPSM03105210Amendment to make it clear that individual can not fall back to normal 25% lump sum rules
RPSM03105220Legislative ref added, clarification to show member is still liable to tax charges
RPSM03105230Example amended to make it specific to enhanced protection
RPSM03105510Legislative ref added, amendment to make it clear where scheme specific protection of lump sums of more than 25% does not apply
RPSM03105520Legislative refs added, links to pages on block transfers, partial transfers and stand alone lump sums inserted
RPSM03105530Legislative refs added, clarification of what rights need to be valued and how
RPSM03105540Headings and legislative refs added
RPSM03105550legislative refs added, addition of technical formula for how excess rights should be apportioned
RPSM03105560Example is clarified to show how rights apportioned
RPSM03105570Example is clarified to show how rights apportioned
RPSM03105580Legislative ref added, addition to show special rules for payment of benefits where there is a 100% lump sum or there has been a partial transfer
RPSM03105590Legislative ref added
RPSM03105600Addition made to show that rule explained in the example works for all types of pension benefits being paid to the member under a money purchase arrangement
RPSM03105610Addition made to show that rule explained in the example works for all types of pension benefits being paid to the member under a money purchase arrangement
RPSM03105620Amendment of error (LTA arises under s214 not s215 FA 04)
RPSM03106000Links to new pages inserted in contents list
RPSM03106010Legislative ref added, reference to the need to keep to certain conditions inserted with links to appropriate pages
RPSM03106020legislative ref added and link to new page on unqualified rights, amendment to make clear that benefits taken from age 50 before 6/4/2010 will still be authorised after that date even if the member is not yet 55
RPSM03106030Legislative refs added, updated for Regulation 3 SI 2005/3451
RPSM03106040Legislative ref added, age corrected from 55 to 50
RPSM03106050Legislative refs added, updated for Regulation 2 SI 2005/3451
RPSM03106060Legislative refs added, page expanded to make clear benefits must all be taken at the same time. Text relating to re-employment condition moved to RPSM03106062
RPSM03106070legislative refs added, guidance on what is a block transfer expanded
RPSM03106080Legislative ref added, clarification of how the number of years reduction of the LTA is calculated. Example moved to RPSM03106090
RPSM03107010Links to death benefits pages inserted & further text giving overview of the new types of lump sum death benefits
RPSM03107020Legislative ref added, correction of when the special lump sum death benefit charge does not apply
RPSM03108000Link to new page inserted in contents list
RPSM03108010Legislative ref added, clarification that only the only allowable measure of increase is RPI
RPSM03108020Form details for notifying HMRC updated
RPSM03108030Legislative ref added
RPSM03109000Subsection rewritten to take account of FA 06 changes, contents page amended to reflect this
RPSM03109010Page rewritten so that it covers benefits that do no trigger an LTA test and so don’t affect either primary or enhanced protection
RPSM03109020Page rewritten to cover lump sum death benefits that do affect primary protection
RPSM03109030Page rewritten – flow chart deleted. Now covers enhanced protection and death benefits
RPSM03200000title added to page
RPSM03200010Links to new page inserted in contents list; errors in page names corrected
RPSM03200020change to wording so that it reflect the fact that it is now past A Day
RPSM03200030Link to page on scheme specific lump sum protection added
RPSM03200040error corrected (2005/06 changed to 2006/07)
RPSM03200050addition to show that PPs includes stakeholder schemes and SIPPs
RPSM03201000Links to new pages added
RPSM03201020Additions to show primary protection cannot be claimed if rights less than £1.5 million, pre a Day rights are converted to a factor based on the standard LTA and protection cannot be given up; example reworked
RPSM03201030Addition of extra info on enhanced protection - no LTA liability, relevant benefit accrual, and precedence over primary protection
RPSM03201040Change to clarify the different forms of protection of lump sum over £375K with enhanced and primary protection
RPSM03201050Change - addition of form reference number - APSS 201 and to show e-submission not yet available
RPSM03201060Change - clarification of when scheme specific lump sum protection applies ad extra info - block transfers, all benefits at the same time & PPs/RACs not covered
RPSM03201070Amendment - to make clear that annuity contracts covered are only those covering OPS benefits
RPSM03201080Change to show that benefits taken from age 60 before 6/4/10 are still authorised if the member is not 55 by 6/4/10; extra info - block transfers & protection lost due to avoidance, link to new page 03201081
RPSM03201090Amendment to show which death benefits may be liable to the LTA and how primary protection would work for death benefits
RPSM03201100Clarification of how funding for death benefits will affect enhanced protection
RPSM03201110Amendment to show which death benefits may be liable to the LTA and how enhanced protection would work for death benefits
RPSM03202000Links to new pages added
RPSM03202010Link to page on scheme specific lump sum protection added
RPSM03202020Addition to cover who completes the notification if the member is not capable/dead
RPSM03202030Addition to make clear benefits form unapproved schemes should not be included in the valuation, links to Technical Pages on valuation, info on valuing crystallised rights
RPSM03202050Addition of form numbers, address they should be sent to and to show e-filing not yet available
RPSM03202060Amendment - to show certificate has unique ref No. and that enhanced lifetime allowance only applies to primary protection
RPSM03202070addition on how HMRC may conduct an enquiry and your appeal rights
RPSM03203000Links to new pages added
RPSM03203010Expansion of info on the ways enhanced protection can be lost
RPSM03203020Change to show enhanced protection can be given up
RPSM03203030Change to show you must tell HMRC when you lose or give up protection
RPSM03300000Title added to page - link to deleted pages removed
RPSM03300010Link to new page added
RPSM03300020Change to show that whilst scheme specific lump sum protection is automatic schemes do not have to give the max lump sum
RPSM03300030Links added to pages on how to value benefits, what relevant existing pension are and what relevant pension arrangements are
RPSM03301000Links to new pages added
RPSM03301010Reworking of the example, links to pages on relevant existing pensions and annual rate of pension added
RPSM03301030Clarification of the assumptions that need to be made in the valuation of DB rights
RPSM03301040Clarification that loans need to be included in the value of money purchase rights, link to new page on valuing insurance policies
RPSM03301050Clarification of the assumptions that need to be made in the valuation of cash balance rights
RPSM03301060Example of what may be a hybrid arrangement added
RPSM03301070Addition to show what scheme types need an HMRC limits test on the benefit valuation and the assumption that should be made when working out the scheme entitlement prior to the HMRC limits test
RPSM03302000Links to new pages added
RPSM03302010Link to technical pages on lump sum valuation added, addition on how a lump sum taken pre A Day but the pension is deferred until after A day should be included in the valuation
RPSM03302020Example added, links to pages on valuation of crystallised rights added.
RPSM03302030Additions to the assumptions to be made when valuing the scheme entitlement to a lump sum, how rights that pre A Day could not provide a lump sum and how a lump sum taken pre A Day but the pension is deferred until after A day should be included in the valuation
RPSM03302040Addition to make it clear that the lump sum value set by the legislation may be different from the pre A Day right
RPSM03302050Addition to show a transfer of non-commutable AVCs would have has a nil certificate pre A Day
RPSM03303000Links to new pages added
RPSM03303010Page redrafted to make clear that even though LTA charge may not apply the normal process of identifying and documenting BCEs applies
RPSM03303020Addition to the suggested information the administrator gets from the member before paying benefits
RPSM03303030Addition to show P60 or P60 substitute can be used, and statement should be given to member
RPSM03303040Addition to show P60 or P60 substitute can be used, statement should be given to member, and member on loss of enhanced protection the normal LTA rules will apply unless the member also has primary protection
RPSM03303050Page reworked to clarify that there are 3 options that may apply to lump sum payments for an individual with enhanced protection
RPSM03304000Title added to page, links to new pages added
RPSM03304010Addition to make clear the form of lump sum protection does not apply where the member has lump sums of over £375K with either primary or enhanced protection
RPSM03304020Addition to clarify what is a block transfer, when a transfer may cause problems and links to the appropriate pages on block transfers in the Technical Pages
RPSM03304030Addition to make clear the form of lump sum protection does not apply where the member has lump sums of over £375K with either primary or enhanced protection
RPSM03304040Addition of questions the administrator should ask the member to ensure that scheme specific lump sum protection does actually apply
RPSM03304050Wording on relevant benefit accrual for other money purchase arrangements reordered, addition for allowable contributions to pre 6/4/06 life policies as per FA 2006 provisions
RPSM03304060Addition for where the member had the right to a 100% lump sum pre A day
RPSM03304070Clarification to the example to show the whole lump sum is a protected lump sum but it is made up of 2 elements
RPSM03304080Removal of the reference to the lump sum being tax free - in some circumstances the LTA charge may apply
RPSM03304090Amendment to show a PCLS cannot be paid if there is not LTA available and what happens when a PCLS or stand-alone lump sum is paid when the member has available LTA but not enough to cover the whole lump sum payment
RPSM03304100Amendment to show when a lump sum of 25% can be paid although the value of the protected lump sum is less than 25%
RPSM03304110Addition of regulation and SI number to the named regulations
RPSM03304120Addition to the information that needs to be reported due to the payment of a stand-alone lump sum
RPSM03305000Title added to page, links to new pages added
RPSM03305010Change - there are 9 BCEs, links to Technical Pages on BCEs and LTA process added
RPSM03305020Correction to error in page name, example added, details on info needed to pay lump sums over £375K added and information requirements post payment added
RPSM03305030correction to error in page name, addition to make clear the LTA charge will apply in the member does not have primary protection & the member must supply evidence of this, information requirements post payment added
RPSM03305040Addition to example to make clear what part of the payment the LTA charge will apply to
RPSM03305060Amendment to information that needs to be reported to HMRC following payment of benefits
RPSM03307000Title added to page, links to new pages added
RPSM03307010Clarification of what death benefits use up the LTA and how protection works for these payments
RPSM03307030Change to show that benefits taken from age 60 before 6/4/10 are still authorised if the member is not 55 by 6/4/10; extra info - block transfers & protection lost due to avoidance, link to new page 03201081
RPSM03307040Clarification of when a 5 year guarantee payment will not be liable to the special lump sum death benefit charge
RPSM04Taxation
RPSM04100040Amendment to reflect that former members and former employers may be liable to unauthorised payments tax charges
RPSM04100060Text amended to reflect provisions of The Tax and Civil Partnerships Regulations 2005 (SI 2005/3229)
RPSM04101010Amendment to reflect authorised payments can be made to former members as well as current members.
RPSM04101040Correction of legislative reference from s347 ICTA 88 to s349 ICTA 88
RPSM04101060Amendment to reflect authorised payments can be made to former members as well as current members, addition of stand-alone lump sum to list of authorised lump sum payments
RPSM04101070Addition of stand-alone lump sum to list of lump sum that are tax exempt; stand-alone lump sum and pension commencement lump sum added to list of lump sums that may be liable to the LTA charge
RPSM04101150Two amendments - (1) to make it clear that scheme administration payments can be made to former members and (2) to make it clear that a loan to a former member is not a scheme administration member payment.
RPSM04102010Two amendments - (1) to make it clear that authorised employer payments can be made to former employers and (2) to make it clear that a public service payment can be made to a former employer.
RPSM04102040Added AFT Regs at top of page, added details of what information should be supplied, amended hyperlink.
RPSM04102050Two amendments - (1) to make it clear that scheme administration payments can be made to former employers and (2) to make it clear that a loan to a former employer is not a scheme administration member payment.
RPSM04103000Change consequential to SI 2006/745
RPSM04103070Revised page in respect of Pension Business.
RPSM04103090Change consequential to SI 2006/745, space inserted in heading between 'Fund' and 'Pooling, Non-working hyperlink to RPSM14101040 replaced with working hyperlink & Legislative reference to S615(60 ICTA 88 has been corrected to S615(6) ICTA 88.
RPSM04104000Amendment to contents page to accommodate link to technical recycling guidance
RPSM04104040Two amendments - (1) to make it clear that an unauthorised member payment can be made to a former member and (2) to replace the reference to S172 to 174 FA 04 by an updated list of the sections that prescribe unauthorised member payments
RPSM04104050Two amendments - (1) to make it clear that an unauthorised employer payment can be made to a former employer and (2) to make it clear that any value shifting that is deemed to be an unauthorised payment by S181 applies to former sponsoring employers
RPSM04104070Amendments to show that payments to connected parties can be made to former members and former sponsoring employers as well as current ones.
RPSM04104080Amendment to show that connected person provisions apply to former members and former sponsoring employers.
RPSM04104510Amended to make it clear that the provision can apply to former members and former sponsoring employers.
RPSM04104620Amended to make it clear that former members and former sponsoring employers can be liable to an unauthorised payments surcharge.
RPSM04104660Amended to make reference to former members
RPSM04104670Amended to make reference to former members
RPSM04104680Amended to make reference to former members
RPSM04104690Amended to make reference to former members
RPSM04104700Amended to make reference to former members
RPSM04104720Amended to make reference to former members
RPSM04104760Added Provision of Information Regs at the top of the page
RPSM04104830Correction of legislative reference in final bullet point from paragraph 29 schedule 36 to paragraph 28 schedule 36, non-working hyperlink to RPSM04104835 corrected to a working hyperlink.
RPSM04104840Hyperlink to page RPSM0414836 added
RPSM04200030Hyperlink added to page RPSM04101140, duplicated paragraph deleted and paragraph about relief on making a claim deleted.
RPSM04201020Non working hyper link to RPSM04104500 corrected to a working hyperlink.
RPSM04201050Non-working hyperlinks converted to working hyperlinks and bullet style applied to all of the listed lump sums.
RPSM04300010Change to contents list to reflect the deletion of pages 04300050 to 04300100
RPSM04300030Wording revised for clarity
RPSM04301000Previously omitted page title now correctly entered onto contents list.
RPSM04301050Hyperlink corrected - was to incorrect page number RPSM04301130 - correct link is to page RPSM04301030.
RPSM04301060Three cross references corrected. Two of these were hyperlinks that have been added as they were previously non working, Non-working hyperlink to RPSM04301040 corrected to a working hyperlink.
RPSM04301070Hyperlink corrected and reference to relief at source penalties removed (there aren't any)
RPSM04301090Two hyperlinked cross references corrected, non-working hyperlink to RPSM12301010 corrected to a working hyperlink.
RPSM04302000Erroneous question mark in page title deleted.
RPSM04302010Erroneous question mark in page title deleted.
RPSM04302020Erroneous question mark in page title deleted.
RPSM04302040Erroneous question mark in page title deleted.
RPSM04302050Erroneous question mark in page title deleted.
RPSM04302070Erroneous question mark in page title deleted, non-working hyperlink to RPSM11104220 corrected to a working hyperlink.
RPSM05Contributions and tax relief
RPSM05100010? Added to reference to 05100020
RPSM05101010New item added to contents list
RPSM05101020S. changed to section (twice)
RPSM05101030Text amended to reflect provisions of The Tax and Civil Partnerships Regulations 2005 (SI 2005/3229), member made defined term
RPSM05101040S. changed to section (twice)
RPSM05101110relievable pension contribution' made defined term
RPSM05101130first use of 'relievable pension contribution' made defined term, second use of 'relievable pension contribution' changed to ordinary text
RPSM05101140Text amended to reflect provisions of The Tax and Civil Partnerships Regulations 2005 (SI 2005/3229), replaced 'is' with 'are'
RPSM05101160
RPSM05101170
RPSM05101180Text amended to reflect provisions of The Tax and Civil Partnerships Regulations 2005 (SI 2005/3229)
RPSM05101210Non working hyperlinks corrected to working hyperlinks, Additional wording to follow legislation
RPSM05101310Paragraph clarified
RPSM05101320S. changed to section (twice)
RPSM05101370Previous NWL changed to RPSM13101000 and made hyperlink
RPSM05101510member' made defined term
RPSM05101520Member, personal pension scheme & retirement annuity contract
RPSM05101530Statutory reference added, defined term corrected, additional wording to reflect DWP provisions.
RPSM05101540first use of member made defined term, wording changed to follow legislation
RPSM05101550Additional paragraph to reflect Schedule 26, paragraph 27(3) of Finance Bill 2006, incorrect text "UK relevant earnings" replaced by defined term 'relevant UK earnings'
RPSM05101560Non working hyperlink corrected to working hyperlink, wrong legislative reference amended
RPSM05102000New page inserted in contents list in respect of employer contributions made in-specie
RPSM05102040New paragraph added regarding in-specie deficiency payments
RPSM05102050New paragraph added regarding in-specie pension levies
RPSM05102140Additional details about regulations including legislative reference
RPSM05200080Non working hyperlink corrected to working hyperlink.
RPSM05201010relevant UK earnings' made defined term
RPSM05201040word 'earnings' changed to defined term 'relevant UK earnings'
RPSM05201060Word 'earnings' changed to defined term 'relevant UK earnings'.
RPSM05202020Full name and SI number of relief at source regulations inserted
RPSM05202030Full name and SI number of relief at source regulations inserted
RPSM05202040Full name and SI number of relief at source regulations inserted, page virtually rewritten, two hyperlinks added, scheme administrator and relevant UK earnings made defined terms
RPSM05203030S amended to section twice.
RPSM05203040Three additional paragraphs added, three new hyperlinks, scheme administrator and pension input period made defined terms.
RPSM05204000Contents page amended to reflect 5 revised headings
RPSM05204010Non working glossary hyperlink corrected to a working hyper link, amended to show refunds allowed in legislation, 3 new hyperlinks, new heading
RPSM05204020Non working glossary hyperlink corrected to a working hyper link, amended to show situation where pension mis-sold, new heading
RPSM05204030amended to show permitted 'payments in error' to be refunded, 3 new hyperlinks, new heading
RPSM05204040amended to show short service refund type situation, new heading, 2 new hyperlinks
RPSM05204050amended to show position where contributions cease, new heading, 3 new hyperlinks
RPSM05300030act changed to Act
RPSM05300050amended to reflect 'in-specie' contribution issue, two new hyperlinks added
RPSM05300090revised wording
RPSM05300100revised wording
RPSM05301050legislative reference added three times
RPSM05301070legislative reference added, term " scheme administrators" changed to "scheme administrator"s
RPSM05301080legislative reference added
RPSM05301100Incorrect hyperlink deleted
RPSM05302000Revised description of two pages, entry 05302060 deleted from contents page
RPSM05302010Revised heading, page amended to set out authorised refunds, hyperlink withdrawn, new hyperlink added elsewhere in text.
RPSM05302020Revised heading, page amended to set out 'in error' refunds, registered pension scheme made defined term
RPSM05302030revised heading, term " scheme administrators" changed to "scheme administrator"s, 2 new hyperlinks, revised wording
RPSM05302040Wording reduced to reflect correct position, revised heading.
RPSM05302050Two amendments to wording, new hyperlink added, revised heading
RPSM05400020NWL to RPSM05102020 corrected to a working hyperlink, NWL to RPSM04400040 corrected to a working hyperlink to RPSM05400040, New text added in respect of in-specie contributions.
RPSM05400040NWL to RPSM05102090 corrected to a working hyperlink, NWL to RPSM0502110 corrected to a working hyperlink to RPSM05102110
RPSM05400100Correction of typing error. - 'Authorise' has been corrected to 'Authorised'
RPSM05400140NWL to RPSM0703060 corrected to a working hyperlink to RPSM07103060
RPSM06Annual allowance
RPSM06100040New hyperlinks added to pages with rules for calculating pension input amounts
RPSM06100050The word 'never' has been deleted from the first line of the first paragraph.
RPSM06100060In final sentence, ‘6 April’ amended to ‘5 April’ and new sentence inserted at the end
RPSM06103040Update to reflect regulations SI 2006/130, reference to SI number in the third bullet point put into brackets.
RPSM06103050New paragraph on transfers
RPSM06103060New paragraph on transfers
RPSM06200030First paragraph corrected to make it clear that all inputs must be counted, not just those paid. Sentence added to end of second paragraph to clarify how inputs in pension input periods that do not coincide with tax years are allocated to a tax-year.
RPSM06200050Extra space between words in final sentence removed.
RPSM0630001