In our March 2016 Update we reported that the Government had published draft regulations which would require a scheme administrator to provide a member with a pensions saving statement if his pensionable earnings exceeded £110,000.
This requirement has been dropped from the final form regulations. HMRC has confirmed in its Pension schemes newsletter 78 that the position for tax year 2016/17 is unchanged, with a scheme administrator only required to provide a standard pension savings statement to a member if that member's pension input amount for that scheme exceeds the general untapered annual allowance of £40,000 rather than if it exceeds the member's personal tapered annual allowance. HMRC states that the requirements for providing a money purchase pension savings statement also remain unchanged. The newsletter also sets out the circumstances in which individuals subject to the tapered annual allowance can use "scheme pays".