Penfold Savings Limited

Member Declaration

PDF Document

1. Member Declaration

I declare that:

  • I will advise the Penfold Pension Administration Team in writing within 30 days, if I cease to be a United Kingdom relevant individual
  • I will advise the Penfold Pension Administration Team in writing if an event occurs which means I am no longer entitled to relief of my contributions no later than:
    • The 5th April in the year of assessment in which the event occurs; or
    • 30 days after the occurrence of the event
  • To the best of my knowledge, the details provided by me in this application are correct and complete. I understand that it is a serious offence to give false statements and that doing so could lead to prosecution. I agree that this declaration and the other information provided by me in this application shall be the basis of the contract between me and the Scheme.

This declaration also asks you to confirm some important information on which we intend to rely. For your own benefit and protection, you should make sure you have read the Penfold Pension Terms & Conditions and Penfold Pension Key Features document carefully before confirming your acceptance.

2. Confirming Your Total Contributions

‘Total’ contributions refer to the total gross contributions that you make each tax year to all the registered pension schemes of which you are a member. So, in the case of contributions to a relief at source scheme, it means the full contributions; that is, the net contributions plus the amount of tax refunded under relief at source.

Before paying a net contribution, you must confirm, by accepting this declaration, the following:

“The ‘Total’ contributions to any registered pension scheme in respect of which I am entitled to receive tax relief, will not exceed the higher of the basic amount or 100% of relevant UK earnings”

By doing this you declare that you will not make a relief at source contribution that is above your tax relief limit or the higher of 100% of your relevant UK earnings, or the basic amount of £3,600

3. Your Cancellation Rights

You have a legal right to cancel your application within 30 days. Your online Communication Record contains an Acknowledgement Letter and Cancellation Notice which you should sign and return if you wish to cancel your application.

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