Finance Act 2004 (c. 12)

SCHEDULES

SCHEDULE 32 U.K. Registered pension schemes: benefit crystallisation events—supplementary

Valid from 06/04/2006

Benefit crystallisation event 5: meaning of “DP” and “DSLS” U.K.

14 (1) For the purposes of benefit crystallisation event 5 “DP” is the annual rate of the scheme pension to which the individual would be entitled if, on the date on which the individual reaches 75, the individual acquired an actual (rather than a prospective) right to receive it. U.K.

(2) For the purposes of benefit crystallisation event 5 “DSLS” is the amount of any lump sum to which the individual would be entitled (otherwise than by way of commutation of pension) if, on that date, the individual acquired an actual (rather than a prospective) right to receive it.