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The Registered Pension Schemes (Relevant Annuities) Regulations 2006
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- 2006 No. 129
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations provide definitions for the terms “relevant annuity” and “annual amount”. The terms are relevant in calculating the “basis amount” in paragraphs 10, 13, 24 and 27 of Schedule 28 to the Finance Act 2004 (pension rules).
Regulation 1 provides for the citation, commencement and interpretation.
Regulation 2 defines “relevant annuity”.
Regulation 3 defines “annual amount” and provides a method of determining that amount.
A regulatory impact assessment in respect of the provisions of Part 4 of the Finance Act 2004 and subordinate legislation under it was published by the Board of Inland Revenue on 8 April 2004, and is available on the website of Her Majesty’s Revenue and Customs at www.hmrc.gov.uk/ria/simplifying-pensions.pdf or (for hard copies) by writing to the Ministerial Correspondence Unit, Capital and Savings, 1st Floor Ferrers House, PO Box 38, Castle Meadow Road, Nottingham, NG2 1BB.
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