Amendments of Part 4 of FA 2004
3(1)Section 172A (surrender) is amended as follows.
(2)In subsection (1), at the end of paragraph (a) (but before the “or”) insert—
“(aa)any rights to payments under a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme,”.
(3)In subsection (3)(a), for “relating to” substitute “in respect of”.
(4)In subsection (5), after paragraph (c) insert—
“(ca)a surrender of (or agreement to surrender) rights to payments under an annuity in any case covered by regulations under paragraph 3(2B) or 17(3) of Schedule 28;”.
(5)After subsection (9) insert—
“(9A)References in this section to a benefit to which the member or a person has an entitlement under the pension scheme includes rights to payments under—
(a)a scheme pension or dependants' scheme pension provided by the scheme administrator or as a result of the application of sums or assets held for the purposes of the pension scheme, or
(b)a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme.”