Benefit crystallisation event occurred relating to a member...

These payments should be reported under reportable event 6 of Regulation 3 of The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567.

Only report benefit crystallisation events (BCE) that are wholly or partly more than the standard lifetime allowance should be reported. For example, the member has not had any previous BCEs, and your scheme makes two BCEs. The BCE uses 25% of the standard lifetime allowance and the next BCE uses 80% of the standard lifetime allowance. Only the BCE using 80% of the standard lifetime allowance needs to be reported as this BCE that 'goes over' the standard lifetime allowance.

Further guidance on this reporting requirement can be found in the Registered Pension Schemes Manual at RPSM12301080.

For an explanation of the meaning of 'benefit crystallisation event', see the relevant entry under 'B' in the Registered Pension Schemes Manual Glossary.

For an explanation of the meaning of 'standard lifetime allowance', see the relevant entry under 'S' in the Registered Pension Schemes Manual glossary.

Further guidance on 'enhanced protection' can be found in the Registered Pension Schemes Manual at RPSM03104000. You can access the manual from the left-hand navigation bar.