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HMRC internal manual

Pensions Tax Manual

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HM Revenue & Customs
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Information and administration: other information requirements for scheme administrators: pension savings statements requested by the member

Glossary PTM000001
   

Regulation 14B The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567

For guidance on the information that a member can request for tax years 2011-12 to 2014-15 and the deadlines for providing the statements see the Registered Pension Schemes Manual on the National Archives website (external readers please see http://webarchive.nationalarchives.gov.uk/*/http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM06107520.htm).

For tax year 2015-16 onwards, an individual can ask the scheme administrator to give them information about their pension input amounts for the scheme.

If the registered pension scheme is a split scheme in accordance with the Registered Pension Schemes (Splitting of Schemes Regulations) 2006 - SI 2006/569 - the requirement to provide information falls on the sub-scheme administrator.

Information that can be requested
Deadline for providing the requested information
When the scheme administrator does not provide the requested information on time
When incorrect information has been given

Information that can be requested

The scheme administrator must provide the following information if a member or former member asks for it in writing.

The member can ask for the same information that would be given automatically, being:

  • a standard pension savings statement: where the scheme administrator did not have reason to believe that the money purchase annual allowance applied, or
  • a money purchase pensions savings statement: where the scheme administrator did have reason to believe that the money purchase annual allowance applied and the money purchase inputs under the scheme exceeded £10,000

The member can ask for the information in the form of a money purchase pension savings statement even if their money purchase inputs under the scheme aren’t more than £10,000. The member can ask for either a standard or a money purchase pension savings statement, but not both.

Details of the information that is given in both types of pension savings statement are given in PTM167200.

Format of information given

It is up to scheme administrators to decide in which format they give individuals the requested information. However, in designing processes scheme administrators should to bear in mind all the following:

  • the need for an audit trail. A scheme needs evidence to satisfy the member and HMRC that they have complied with the requirement to provide the requested information. HMRC may enquire into an individual’s tax return. So individuals will need evidence to back up what they say on their tax return.
  • the requirement to keep information in accordance with the guidance at PTM160200.
  • the ability of the member to be able to receive the information. For example a member may not have internet or e-mail access. Alternatively the member may have a visual impairment which makes using electronic communication difficult without using specialist software or equipment.

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Deadline for providing the requested information

The scheme administrator has until the later of:

  • three months following the date of receipt of the request for information, and
  • 6 October following the end of the relevant tax year.

For certain schemes the scheme administrator needs information from another person to allow them to calculate the pension input amount for a member. There are regulations requiring certain information to be provided to the scheme administrator - see PTM167400.

If the scheme administrator has not been given this required information on time the deadline for giving the pension statement to the member is extended. The deadline for providing the requested information will be three months following the day the scheme administrator received the required information.

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When the scheme administrator does not provide the requested information on time

Section 98(1) Taxes Management Act 1970

If the scheme administrator does not provide the requested information on time they can be liable to the penalties described at PTM160800.

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When incorrect information has been given

Section 98(2) Taxes Management Act 1970

The most important thing is to give the correct information to the individual as soon as an error has been identified.

Penalties can be given for supplying incorrect information - see PTM160800.