Answers · UK 2025/26
What makes a pension scheme a "registered" pension scheme in the UK?
A registered pension scheme is one registered with HMRC, which allows contributions to receive tax relief and investment growth to accumulate free of UK tax.
Full answer
For a pension scheme to qualify for UK tax reliefs -- including tax relief on contributions, tax-free investment growth, and the ability to take a tax-free lump sum at retirement -- it must be a registered pension scheme under the Finance Act 2004. Registration gives the scheme: income tax relief on contributions (at the member's marginal rate); no income tax or CGT on investments within the scheme; the ability to pay a pension commencement lump sum (PCLS) of up to 25% tax-free (subject to the Lump Sum Allowance of £268,275). Registration is separate from authorisation by the Financial Conduct Authority (FCA), which governs how the scheme is marketed and managed. HMRC can de-register a scheme if it becomes non-compliant.
This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.