16. For regulation 39(1) (commutation: small pensions) substitute—N.I.
“39.—(1) Any authorised payment within the meaning of section 164 (authorised member payments) of the Finance Act 2004 (“the 2004 Act”) listed in sub-paragraphs (a) to (c) may be paid in accordance with the rules relating to the payment of such benefits under that Act or relevant regulations under that Act—
(a)a lump sum which is a trivial commutation lump sum within the meaning of section 166 (lump sum rule) of the 2004 Act;
(b)a trivial commutation lump sum death benefit within the meaning of section 168 (lump sum death benefit rule) of the 2004 Act; or
(c)a commutation payment under regulations 6 (payment of relevant accretion), 11 (de minimis rule for pension schemes) or 12 (payments by larger pension schemes) of the Registered Pension Schemes (Authorised Payments) Regulations 2009 M1.”.
Marginal Citations