SCHEDULES
SCHEDULE 16Benefits under pension schemes
Part 1Changes to benefits available under pension schemes etc
Exemption from income tax of certain lump sums and lump sum death benefits
42
1
Section 636A of ITEPA 2003 (exemption for certain lump sums under registered pension schemes) is amended as follows.
2
In subsection (1)—
a
in paragraph (b), after “serious ill-health lump sum” insert “
paid to a member who has not reached the age of 75
”
;
F2b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1c
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F43
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F34
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
In subsection (7)—
a
after “ “defined benefits lump sum death benefit”,” insert—
“drawdown pension fund lump sum death benefit”,
b
after “ “pension protection lump sum death benefit”,” insert “
and
”
;
c
omit “ “unsecured pension fund lump sum death benefit”,” (and the “and” before it).