Why you must register
It's a legal requirement to register the scheme with The Pensions Regulator (TPR) within three months from the date on which the scheme first becomes a registrable scheme. The scheme trustees or scheme managers could face a fine if they don't do this on time.
Trustees and managers should be aware that it's the:
- trustees' responsibility to register occupational schemes with TPR
- trustees' or manager's responsibility to register personal pension schemes with TPR
Registration is important in allowing us to maintain up-to-date records of pension schemes and also helps us to accurately calculate the levy.
How to register
- You must register a new scheme with HMRC via their online system.
- Once approved, HMRC notifies you and TPR of their decision.
- We contact you to ask for additional information to determine whether you need to register the scheme with TPR.
- If the scheme does need to be registered with TPR we will contact you with further instructions.
Certain schemes do not have to register with HM Revenue and Customs (HMRC). If you are unsure which registration requirement applies to your pension scheme you should seek independent legal advice. If you are required to register a scheme with TPR that does not require HMRC approval, please contact us.
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