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Document Can I make an application for Scheme Pays if I am over age 75?

No. HMRC’s deadline for scheme pays is earlier if you are retiring or have a 75th birthday before the deadline.

 

We cannot accept a scheme pays election if it is received by us after your 75th birthday, an election received after this date will be automatically rejected.

 

If you are nearing your 75th birthday and have not received an annual allowance pension savings statement you need to estimate if you think you could be liable to an annual allowance charge. You can then complete an election using an estimated charge amount and make sure we receive it before your 75th birthday.

 

You then have up to 4 years in which to change your election with the final annual allowance charge you want us to pay.

 

You can find more details about our scheme pays facility, how to make an election and the deadlines involved in the Pension Savings Statement Guide and factsheets on our website.

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