Sample forms for Registered Administrators
Wednesday 4 June 2008: With effect from 1 November 2008 the trustees of every scheme, including large trust RAC schemes, must appoint a registered administrator to provide various services to the scheme known as “core administration functions”. The “core administration functions” are the preparation of annual reports and annual benefit statements for the trustees and the maintenance of sufficient and accurate records of members and their entitlements to discharge the above functions. Failure by the trustees to appoint a registered administrator will constitute an offence.
A registered administrator is a person or company registered with the Board to supply core administration functions to schemes. Existing service providers who intend to continue providing the core administration functions after the Act is commenced must register with the Board as a registered administrator prior to 1 November 2008. Where the trustees have been carrying out the core administration functions in-house and wish to continue doing so, they will also be required to register with the Board as a registered administrator prior to 1 November 2008. New service providers coming on stream after 1 November 2008 must register with the Board before commencing business.
Applicants for registration must complete a form indicating the scheme or schemes for which they are applying to be registered and certify that they are satisfied that they are competent to provide core administration functions to these schemes. Registered administrators must renew their registration annually with the Board not later than 30 days before the anniversary of their initial registration or renewal, as the case may be. No fee is payable on registration or renewal.
The Pensions Board has published sample Registered Administrator Application and Renewal forms for information and can be viewed below. These forms are for illustrative purposes only and should not be filled in or submitted to the Board at this point in time.