Pensions Authority fees do not apply to the following:
- Death benefit only schemes.
- Additional voluntary contribution (AVC) schemes.
- Where a scheme was established before 1 January 1993 and had one active member at the start of the scheme year before the year of payment. However, if the scheme had more than one active member for the relevant scheme year then Authority fees are due.
For example: Scheme A which commenced prior to 1 January 1993:
– has one active member for scheme year 2011 – no fee is applicable.
– has two active members for scheme year 2012 – fee is due for both active members.
– has one active member for scheme year 2013 – no fee is applicable.
- Section 52 schemes: Certain public sector schemes excluded from the application of the funding standard (by virtue of section 52 of the Pensions Act) pay 40% of the fees due.
- Pensioner or deferred members.
- A scheme which becomes frozen or wound up before its renewal date in a calendar year does not have to pay fees for that year.
For example: ABC scheme has a renewal date of 1 September but:
– becomes frozen on 10 May – no fee due for that year.
– becomes frozen on 20 November – fees due based on membership numbers at the renewal date in the preceding year.