SCHEDULES

SCHEDULE 8Information to be given by schemes about winding up

Regulations 23(3), 24(2) and 25(2)

PART 1Information to be given by occupational pension schemes during winding up

I11

A statement that the scheme is being wound up.

Annotations:
Commencement Information
I1

Sch. 8 para. 1 in operation at 6.4.2014, see reg. 1(1)

I22

The reasons why the scheme is being wound up.

Annotations:
Commencement Information
I2

Sch. 8 para. 2 in operation at 6.4.2014, see reg. 1(1)

I33

Where Article 2260 of the 1995 Order (circumstances in which following provisions apply) applies, a statement that at least one of the trustees of the scheme is required to be an independent person by Article 2361 of that Order.

Annotations:
Commencement Information
I3

Sch. 8 para. 3 in operation at 6.4.2014, see reg. 1(1)

I44

In the case of active members, whether death in service benefits will continue to be payable.

Annotations:
Commencement Information
I4

Sch. 8 para. 4 in operation at 6.4.2014, see reg. 1(1)

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.

Annotations:
Commencement Information
I5

Sch. 8 para. 5 in operation at 6.4.2014, see reg. 1(1)

I66

An estimate of when—

a

the scheme’s liabilities are likely to be established, and

b

any assets are likely to be recovered.

Annotations:
Commencement Information
I6

Sch. 8 para. 6 in operation at 6.4.2014, see reg. 1(1)

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.

Annotations:
Commencement Information
I8

Sch. 8 para. 8 in operation at 6.4.2014, see reg. 1(1)

I99

The amount of any reduction of the member’s, or beneficiary’s, benefits.

Annotations:
Commencement Information
I9

Sch. 8 para. 9 in operation at 6.4.2014, see reg. 1(1)

I1010

Who has or will become liable for the payment of the member’s, or beneficiary’s, benefits.

Annotations:
Commencement Information
I10

Sch. 8 para. 10 in operation at 6.4.2014, see reg. 1(1)

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).

Annotations:
Commencement Information
I12

Sch. 8 para. 12 in operation at 6.4.2014, see reg. 1(1)

I1313

The options available to a member for preserving, transferring or otherwise disposing of the member’s accrued rights under the scheme.

Annotations:
Commencement Information
I13

Sch. 8 para. 13 in operation at 6.4.2014, see reg. 1(1)

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.

Annotations:
Commencement Information
I14

Sch. 8 para. 14 in operation at 6.4.2014, see reg. 1(1)

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.

Annotations:
Commencement Information
I15

Sch. 8 para. 15 in operation at 6.4.2014, see reg. 1(1)

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.