Scheme Practitioner

Pole Arnold have many years experience in dealing with all aspects of SSAS

Scheme Practitioner Scheme Practitioner

H M Revenue & Customs require that each Registered Pension Scheme has a Scheme Administrator resident in the United Kingdom. The Scheme Administrator is the person (or persons) with responsibility for all tax charges, interest and penalties for a Registered Pension Scheme.  The Trustees are usually the Scheme Administrator collectively and have joint and several liability as such.

The Scheme Administrator is required to register their details with HMRC Pension Schemes Online and will be responsible for complying with HMRC reporting and information requirements and need to ensure that returns are completed on time and in the correct format.

The Scheme Administrator will often have limited knowledge of pensions legislation and the various returns and therefore will usually employ the services of a professional organisation to act as Scheme Practitioner

What is the role of the Scheme Practitioner?

Pole Arnold will undertake the role of Scheme Practitioner. A Scheme Practitioner would normally carry out the following duties for the Scheme Trustees/Administrator:

  • Dealing with correspondence and renewal of the Data Protection Act registration
  • Record keeping including calculating shares of fund between members
  • Dealing with correspondence and renewal of the Pensions Regulator registration
  • General technical guidance on pensions legislation, HMRC regulatory matters and scheme rules
  • Guidance on HMRC rules on investment  – especially taxable property and employer loans
  • Input periods and contribution calculations
  • Benefit projections and preparation of “what if” scenarios
  • Pension Drawdown calculations, including partial drawdown and additional fund designation
  • Flexible Drawdown criteria
  • Guidance on Enhanced, Primary and Fixed Protection and the effect on benefits.
  • Calculation, establishment and guidance on payment of drawdown pensions
  • Statutory reviews of Drawdown Pensions
  • Operation of Partial Drawdown and the recording and calculation of Additional Fund Designation
  • Amendments to scheme rules, ad hoc and following legislative changes
  • Complete and submit online a Scheme Return annually
  • Where appropriate complete and submit a tax return annually
  • Identify and submit online details of all reportable events
  • Submit ‘Accounting for Tax’ returns as required
  • Arranging loans and liaison with solicitors in drafting of legal charges
  • Dealing with all parties involved in property purchase
  • Advising on member/trustee disputes
  • Advice and work following administration, receivership or liquidation of any sponsoring employer
  • Specific detailed Pensions Technical projects
  • Attendance by Scheme Practitioner at trustee meetings
  • Scheme restructuring
  • Entry of new members to the scheme
  • Transfer of existing members from the scheme
  • Liaison with investment third parties
  • Guidance on HMRC audits and investigations
  • Administering purchase of Annuities
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