Part 6 Provision of Information
Taxation of Pensions Act 2014 (2014 c 30) | Legislation

Part 6 Provision of Information

86

The Registered Pension Schemes (Provision of Information) Regulations 2006 (SI 2006/567) are amended as follows.

87

After regulation 14 insert—

“Information provided to member by scheme administrator where it appears member may be first flexibly accessing pension rights

14ZA

(1)     If a relevant event (see paragraph (2)) occurs in relation to a member of a registered pension scheme, the scheme administrator—

(a)     must provide the member with a statement—

(i)     stating the date of the relevant event, and

(ii)     explaining the matters specified in paragraph (3), and

(b)     must do so before the end of the 31 days beginning with the date of the relevant event,

but this is subject to paragraph (4).

(2)     For the purposes of this regulation—

(a)     if—

(i)     the member has a member's flexi-access drawdown fund in respect of an arrangement under the scheme, and

(ii)     the fund came into being as a result of sums or assets being designated on or after 6 April 2015 as available for the payment of drawdown pension, or as a result of the operation of paragraph 8D(2) of Schedule 28,

a relevant event occurs

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