Search Legislation

The Firefighters’ Pension Scheme (Wales) (Consequential Provisions) Regulations 2015

What Version

 Help about what version

Opening Options

 Help about opening options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

PART 4Modification of tax regime

Lifetime allowance charge

13.—(1) This regulation applies to a person (P) who—

(a)is a member of an old scheme whether by virtue of pensionable service for that scheme or deemed transfer scheme service under paragraph 2 of Schedule 7 to the 2013 Act (final salary link);

(b)is a member of the new scheme by virtue of pensionable service for the new scheme;

(c)is being paid an upper or a lower tier ill-health pension under regulation 74 (entitlement to lower tier ill-health pension and higher tier ill-health pension) of the Firefighters’ Pension Scheme (Wales) Regulations 2015; and

(d)has an ill-health pension paid from the new scheme reduced as a consequence of P becoming entitled to payment of a scheme pension (within the meaning of paragraph 2 of Schedule 28 to the Finance Act 2004(1)) under the old scheme.

(2) Section 216 of the Finance Act 2004(2) (benefit crystallisation events and amounts crystallised) is modified in its application to P as specified in paragraph (3).

(3) The payment of any scheme pension from the old scheme to P is treated as if it was not a benefit crystallisation event within the meaning of section 216 of the Finance Act 2004.

Annual allowance charge

14.—(1) This regulation applies to a person (P), who—

(a)is a member of an old scheme whether by virtue of pensionable service for that scheme or deemed transfer scheme service under paragraph 2 of Schedule 7 to the 2013 Act (final salary link);

(b)is a member of the new scheme by virtue of pensionable service for the new scheme; and

(c)becomes entitled to payment of a lower tier ill-health pension under regulation 74 of the Firefighters’ Pension Scheme (Wales) Regulations 2015.

(2) Section 234 of the Finance Act 2004(3) (defined benefits arrangements) is modified in its application to P as specified in paragraph (3).

(3) When calculating the closing value of P’s rights under the new scheme for the pension input period during which P becomes entitled to payment of the lower tier ill-health pension, the element of the lower tier ill-health pension that represents pensionable service for the old scheme is not to be counted as being part of the closing value.

(1)

2004 c. 12. Paragraph 2 was amended by sections 101 and 104 of, and paragraph 11 of Schedule 10 and Part 4 of Schedule 11 to, the Finance Act 2005 (c. 7); by section 161 of, and paragraph 20 of Schedule 23 to, the Finance Act 2006 (c. 25); by section 70 of, and paragraph 7 of Schedule 20 to, the Finance Act 2007 (c. 11); by section 51 of the Finance Act 2013 (c. 29); and by S.I. 2007/493.

(2)

Section 216 was amended by section 101 of, and paragraphs 1 and 31 of Schedule 10 to, the Finance Act 2005 (c. 7); section 161 of, and paragraphs 1 and 30 of Schedule 23 to, the Finance Act 2006 (c. 25); by section 92 of, and paragraphs 1, 4 and 5 of Schedule 29 to, the Finance Act 2008 (c. 9); and by section 65 of, and paragraphs 43, 62 and 73 of Schedule 16 to, the Finance Act 2011 (c. 11).

(3)

Section 234 was amended by section 66 of, and paragraphs 1, 10 and 17 of Schedule 17 to, the Finance Act 2011 (c. 11).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area. The revised version is currently only available in English.

Original (As Enacted or Made) - English:The original English language version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Original (As Enacted or Made) - Welsh:The original Welsh language version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources