This section has no associated Explanatory Notes
71(1)In paragraph 7(1) of Schedule 29 to FA 2004 (meaning of “trivial commutation lump sum”)—U.K.
(a)after paragraph (a) insert—
“(aa)it is paid in respect of a defined benefits arrangement,”,
(b)in paragraph (d) (entitlement to benefits must be extinguished) for “the member's entitlement to benefits” substitute “ any entitlement to defined benefits that the member has ”, and
(c)in paragraph (e) (member must have reached 60) for “the age of 60” substitute “ normal minimum pension age (or the ill-health condition is met) ”.
(2)The amendments made by sub-paragraph (1) have effect for commutation periods beginning on or after 6 April 2015 and do so irrespective of whether the nominated date is before, on or after 6 April 2015.