Application to register a pension scheme

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Q. What registration questions have changed following the introduction of Finance Act 2007?

A. You will no longer need to provide the following information when registering a pension scheme:

Type of scheme – tick boxes have been removed for ‘an overall trust within which there are individual trusts applying for the benefit of each member’ and ‘an overall trust within which specific assets are held as, or within, sub-funds for each member’.

‘Does the scheme have at least one member with the ability to control the way in which the scheme assets are used?’ – This question has been removed.

Instead, you will need to answer the following questions:

‘Is the scheme investment-regulated?’
‘Do all the investments held by the scheme comprise contracts or policies of insurance?’
‘In what country or territory is the scheme established?’
‘Is this an occupational pension scheme?’

Q. Will I still be able to view my answers to the original registration questions using Pension Schemes Online?

A. No. Once the questions were removed from the system to incorporate the changes required from April 2007, they are no longer visible via Pension Schemes Online.

The system has used the answers to the previous registration questions to populate the fields for the questions relating to the new registration requirements.

For example, if you answered ‘yes’ to the question ‘Does the scheme have at least one member with the ability to control the way in which the scheme assets are used?’ this has been translated as a ‘yes’ answer to the question ‘Is the scheme investment-regulated?’