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HMRC internal manual

National Insurance Manual

Earnings of employees and office holders: retirement benefits schemes from 6th April 2006 - registered pension schemes: definition

Regulation 1(2) of the Social Security (Contributions) Regulations 2001 (as insertedby regulation 3 of the Social Security (Contributions) (Amendment No. 2) Regulations 2006)

Section 150(2) Finance Act 2004

For NICs purposes, a “registered pension scheme “(“RPS”) has the same meaning as that for income tax purposes. Section 150(1)Finance Act 2004 defines “pension scheme” as meaning:

“a scheme or other arrangements, comprised in one or other instruments or agreements,having or capable of having effect so as to provide benefits to or in respect of persons:

  • on retirement
  • on death
  • on having reached a particular age
  • on the onset of serious ill-health or incapacity; or
  • in similar circumstances.”

Section 150(2) defines a RPS as being a pension scheme which, at any time, isregistered with HMRC (ie, with Audit and Pension Schemes Services, Nottingham). The schemewill be registered either because:

  • the scheme administrator has applied for registration and HMRC has registered the scheme; or
  • it is a pension scheme which, unless it has opted-out, was an approved scheme on 5th April 2006.

For further information about:

  • registering with HMRC a pension scheme set up on or after 6th April 2006, see RPSM02101000 (contents)
  • the type of approved pension scheme which, unless it has opted-out, is automatically treated as a RPS from that date, see RPSM02100020.
  Words in bold are defined in the Glossary to the Registered Pension Schemes Manual (RPSM20000000). They have the same meaning for NICs purposes unless otherwise stated