HMRC have published their latest newsletter for administrators of pension schemes and we relay the contents of this for your information.
On 27 August 2026, HMRC published their Pension Schemes Newsletter. This updates pension scheme administrators on the latest news for pension schemes and is not always of direct relevance to bookkeepers. This month’s Newsletter covers the following topics:
- Normal minimum pension age – this concerns the increase from 55 to 57 in 2028 and the consultation on draft regulations that will provide transitional protections for scheme members aged 55 or 56 on 05 April 2028;
- Non-statutory clearances - a non-statutory clearance is written confirmation of HMRC's view of the tax position relating to certain transactions or events. The article explains that administrators must provide HMRC with all relevant information when making an application;
- Disposal of non-standard assets – this advises scheme administrators they must value of assets disposed of out of a pension scheme, particularly those classed as non-standard or ‘toxic’. Transferring assets out of a pension scheme below the correct value may result in tax charges;
- The Low Earner’s Pension Payment (LEPP) – as advised in August 2026’s Employer Bulletin, there has been a delay issuing these payments to individuals, payable from tax year 2024/25 onwards. There is no action required by scheme administrators (or employers), though it is good to note that HMRC are publicising this delay in the event of any queries;
- Private pension statistics – this section advises that HMRC have published the latest statistics on personal pensions which, for example, provide details of the number of members and value of individual contributions to personal pensions;
- Pension savings statements – this reminds administrators that scheme administrators have an obligation to provide savings statements (in certain circumstances). The same statement must also be provided to HMRC. This is not news but a reminder of an existing obligation; and
- Defined benefit pension scheme surplus payments to members – this refers back to July 2026’s newsletter and concerns the publication of draft legislation which will allow, from April 2027, defined benefit occupational pension schemes to make payments to members when the scheme is in surplus. The August 2026 article states that this surplus payment will be treated as taxable income and reportable via RTI
For Bookkeepers
This newsletter is for administrators of pension schemes, not administrators of pension contributions. Therefore, ICB provides this for information purposes and the surplus payment RTI field will be used when a payment is made by the trustees of the pension scheme, not employers.