The Postal Services Act 2011 (Taxation) Regulations 2012

Entitlement to lump sums exceeding 25% of uncrystallised rights to continue after the Accrued Rights Transfer

11.—(1) Paragraph (2) applies where—

(a) the RMPP was a protected pension scheme under paragraph 31(4) of Schedule 36 in relation to a member; and

(b) the Accrued Rights Transfer has taken place.

(2) The Transfer is to be treated as a block transfer within the meaning of paragraph 22(6) of Schedule 36 for the purposes of paragraphs 31 to 34(1) (entitlement to lump sums exceeding 25% of uncrystallised rights) of that Schedule.

(1)

Paragraph 31(7) was amended by paragraphs 1 and 55 of Schedule 10 to the Finance Act 2005. Paragraph 34 was amended by paragraphs 1 and 57 of Schedule 10 to the Finance Act 2005, paragraphs 1 and 25 of Schedule 25 to the Finance Act 2006, paragraph 13 of Schedule 29 to the Finance Act 2008 (c. 9) and paragraphs 62 and 82 to Schedule 16 of the Finance Act 2011 (c. 11). Paragraph 34 was also amended by paragraphs 1, 8 and 11 of Schedule 18 to the Finance Act 2011 with effect for the tax year 2012-13 and subsequent tax years.