The Registered Pension Schemes (Authorised Member Payments) Regulations 2022

• Citation: S.I. 2022/723
• Sections: 3

Section 1 Citation and commencement

These Regulations may be cited as the Registered Pension Schemes (Authorised Member Payments) Regulations 2022 and come into force on 1st August 2022.

Section 2 Interpretation

In these Regulations—

“ 2022 Act ” means the Dormant Assets Act 2022 ;

“ dormant ” has the meaning given in section 7 of the 2022 Act;

“ eligible pension benefits ” has the meaning given in section 6 of the 2022 Act;

“ transfer ” means a transfer of the description given in section 5(1) of the 2022 Act.

Section 3 Prescription of authorised member payments

A transfer of dormant eligible pension benefits is a payment of a description that is prescribed for the purposes of section 164(1)(f) of the Finance Act 2004 (authorised member payments).