Registered pension scheme

An occupational pension scheme (www.practicallaw.com/8-107-6900) or personal pension scheme (www.practicallaw.com/4-107-7001) that is registered with HM Revenue & Customs (www.practicallaw.com/6-200-6399) under the Finance Act 2004. Approved schemes that already existed on 5 April 2006 were deemed to be registered pension schemes from the following day, when pensions tax simplification came into effect. A registered scheme must comply with statutory provisions relating to the amounts of contributions and benefits that can be paid without incurring a tax charge. Payments that are outside these restrictions are known as unauthorised payments (www.practicallaw.com/5-207-2097).

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247244959104", "objName" : "Registered pension scheme", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/5-201-6474?source=relatedcontent", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2230ccc46:14883a70fc3:1127", "analyticsSessionCookie" : "2230ccc46:14883a70fc3:1128", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }