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Income and Corporation Taxes Act 1988
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Lump sums
6(1)This paragraph applies where an employee becomes a member of the scheme on or after 17th March 1987.
(2)If the rules of the scheme allow the employee to obtain, (by commutation of his pension or otherwise), a lump sum or sums calculated by reference to his relevant annual remuneration, they shall have effect as if they included a rule that in calculating a lump sum any excess of that remuneration over the permitted maximum should be disregarded.
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