PTM174800 - Lump sum allowance and lump sum and death benefit allowance: Transitional rules for the tax year 2024-25: Statements
As of 6 April 2024 there is no longer lifetime allowance. If you are looking for information about protections, enhancement factors and the lifetime allowance charge please see these pages on The National Archives.
If you are looking for information about the principles of lifetime allowance and benefit crystallisation events please see these pages of The National Archives.
If you are looking for information regarding benefit crystallisation event statements prior to 6 April 2024 please see PTM164400.
If you are looking for information regarding relevant benefit crystallisation event statements, please see PTM173000.
Statements for members who would not otherwise receive one in the 2024-25 tax year
Paragraph 130 Finance Act 2024
A scheme administrator must provide a statement in the 2024-25 tax year to:
Any member of the scheme who had one or more benefit crystallisation events (BCE) occurring prior to the 6 April 2024 and who does not have an actual entitlement to be paid a pension, or
The personal representatives of any such member who has died.
What should be included in the statement
The statement must show the percentage of the standard lifetime allowance used up by:
any BCEs under the scheme in respect of the member, to the extent that sums and assets representing those benefits have not been transferred to another registered pension scheme
where the scheme has received a transfer of crystallised rights in respect of the member, any BCEs that occurred in respect of those transferred-in rights.