SCHEDULES
SCHEDULE 8Information to be given by schemes about winding up
PART 1Information to be given by occupational pension schemes during winding up
I11
A statement that the scheme is being wound up.
I22
The reasons why the scheme is being wound up.
I33
I44
In the case of active members, whether death in service benefits will continue to be payable.
I55
A summary of the action that is being taken, and that has been taken, to—
a
establish the scheme’s liabilities, and
b
recover any assets.
I66
An estimate of when—
a
the scheme’s liabilities are likely to be established, and
b
any assets are likely to be recovered.
I77
F3Except in the case of a collective money purchase scheme, either —
a
an indication of the extent to which (if at all) the actuarial value of accrued rights or benefits are likely to be reduced, or
b
a statement that there is insufficient information to provide such an indication.
PART 2Information to be given by occupational pension schemes after winding up
I88
Whether the member or beneficiary’s benefits are reduced because the scheme’s resources are not sufficient to meet its liabilities.
I99
The amount of any reduction of the member’s, or beneficiary’s, benefits.
I1010
Who has or will become liable for the payment of the member’s, or beneficiary’s, benefits.
PART 3Information to be given by personal pension schemes after winding up
I1111
1
The amount of—
a
contributions (before the making of any deductions), including a nil amount, credited to the member under the scheme during the period of 12 months preceding a date specified by the managers of the scheme, and
b
F1where the scheme was, at any time before the abolition date, an appropriate scheme, the minimum contributions paid by HMRC in respect of the member in that 12 month period that is attributable to section 41(1) of the 1993 Act identifying separately that part of the contributions that is attributable to tax relief on the employee’s share of minimum contributions, being the difference between that share and the grossed-up equivalent of that share.
2
F2In sub-paragraph (1)(b) the expressions “employee’s share” and “grossed-up equivalent” have the meanings given to them by section 202(3) and (4) of the Finance Act 2004 (minimum contributions under pensions legislation).
I1212
At a date specified by the managers of the scheme—
a
the value of the member’s accrued rights under the scheme, and
b
if different, the value of the cash equivalent calculated in accordance with regulations 3 and 4 of the Personal Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1987 (calculation and verification and increases and reductions of cash equivalents).
I1313
The options available to a member for preserving, transferring or otherwise disposing of the member’s accrued rights under the scheme.
I1414
An account of the amount by which the member’s accrued rights have been reduced and of the action taken by the managers of the scheme, or which is open to the member to take, in order, so far as may be possible, to restore the value of the member’s accrued rights under the scheme.
PART 4Report under Article 72A of the 1995 Order
I1515
Where a report has been made to the Regulator under Article 72A62 of the 1995 Order (reports to Authority about winding up), a copy of that report.
PART 5Information on expected benefits
I1616
An estimate of the amount of the member’s and beneficiary’s benefits that are expected to be payable from normal pension age or death.