Amendment of the Taxation of Pension Schemes (Transitional Provisions) Order 20062

1

The Taxation of Pension Schemes (Transitional Provisions) Order 20062 is amended as follows.

2

In article 23(2) (modification of paragraph 34 of Schedule 36 to the Finance Act 2004)—

a

in the sub-paragraph (5) treated as substituted—

i

for “CLSA” substitute “ULA”, and

ii

for “FLSA” substitute “FSLA”;

b

in the sub-paragraph (7) treated as substituted, for the definition of “CSLA” substitute—

  • ULA is the underpinned lifetime allowance,

3

In article 23C(4) (modification of Schedule 29 to the Finance Act 2004), in the paragraph 7A treated as inserted, in sub-paragraph (1)(b) omit “, but has not reached the age of 75”.

4

In article 25(3)(a) (stand-alone lump sums: introductory and definition), for “D” substitute “C”.

5

In article 25A (conditions to be met by stand-alone lump sums), omit paragraph (5).