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Part 2Unauthorised payments

Chapter 1Interpretation

Interpretation of Part 2

2.—(1) In this Part—

“Chapter 1 scheme” and “Chapter 1 legacy scheme” have the same meanings as in Chapter 1 of Part 1 of PSPJOA 2022(1);

“event report” means a report required by regulation 3(1) of the Registered Pension Schemes (Provision of Information) Regulations 2006 (provision of information by scheme administrator to the Commissioners)(2);

“HMRC” means His Majesty’s Revenue and Customs;

“offset” means offset in accordance with regulation 7(2) or (3);

“reclaimed” means reclaimed in accordance with regulation 7(4);

“relevant charge” means—

(a)

an unauthorised payments charge(3) that was paid by a scheme administrator(4) on behalf of an individual, or

(b)

a scheme sanction charge(5);

“relevant period” means a period of three months ending with 31st March, 30th June, 30th September or 31st December;

“relevant rectification provision” means—

(a)

section 2(1) of PSPJOA 2022 (remediable service treated as pensionable under Chapter 1 legacy schemes);

(b)

section 6(5) of PSPJOA 2022 (immediate choice to receive new scheme benefits);

(c)

section 10(4) of PSPJOA 2022 (deferred choice to receive new scheme benefits);

(d)

regulation 19 of the Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (lump sum unauthorised payment already paid: repayment of overpaid amount to scheme);

“repayment interest” means interest calculated in accordance with regulation 8;

“return” means a return under regulation 9.

(2) Expressions used in this Part, unless otherwise provided, have the same meaning as in Part 4 of FA 2004 (pension schemes etc)(6).

(1)

“PSPJOA 2022” means the Public Service Pensions and Judicial Offices Act 2022 (c. 7) by virtue of section 11(7) of the Finance Act 2022.

(2)

S.I. 2006/567; relevant amending instruments are S.I. 2011/301, 2011/1797.

(3)

“Unauthorised payments charge” means the charge to income tax under section 208 of the Finance Act 2004 (c. 12).

(4)

“Scheme administrator” is defined in section 270 of the Finance Act 2004.

(5)

“Scheme sanction charge” means the charge to income tax under section 239 of the Finance Act 2004.

(6)

“FA 2004” means the Finance Act 2004 by virtue of section 103 of the Finance Act 2022. Section 280 of the Finance Act 2004 provides an index of expressions used in Part 4 of that Act.