Practical Law UK Glossary 5-201-6474 (Approx. 6 pages)
Glossary
Registered pension scheme
An occupational pension scheme or personal pension scheme that is registered with HM Revenue & Customs 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.