In our February update, we noted that HMRC had consulted in May 2008 on the draft Registered Pension Schemes (Authorised Payments) Regulations (the Regulations). The Regulations will implement changes to the authorised payments regime and will allow some unplanned payments, currently classed as unauthorised, to become authorised with retrospective effect to 6 April 2006. The Regulations will also make some changes to the rules for trivial commutation, so that very small benefits accrued in several different occupational pension schemes will be permitted to be taken as lump sums.

It is now thought that the final version of the Regulations will not be published until autumn 2009.

View the draft Regulations (pdf)(84.0KB)