SCHEDULES
C2C3SCHEDULE 36Pension schemes etc: transitional provisions and savings
Sch. 36 applied (1.6.2018) by The Local Government Pension Scheme (Scotland) Regulations 2018 (S.S.I. 2018/141), regs. 1(1), 48(2)
C1Part 3Pre-commencement benefit rights
Sch. 36 Pt. 3 modified (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 31(1)
Lump sum rights exceeding £375,000: primary and enhanced protection
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1
If (and for so long as) paragraph 12 (enhanced protection) applies in relation to the individual, paragraph 2 of Schedule 29 applies in relation to the individual with the following modifications.
2
If the value of the individual’s relevant uncrystallised lump sum rights on 5th April 2006 (calculated in accordance with paragraphs 25 and 26) was nil, the permitted maximum under paragraph 2 is nil.
3
Otherwise, paragraph 2 applies as if for sub-paragraphs (5) to (8) there were substituted—
5
If sub-paragraph (2) does not apply, the permitted maximum is F1the lower of—
a
the applicable amount calculated in accordance with paragraph 3, and
b
the amount that would have been the applicable amount calculated in accordance with paragraph 3 if the lump sum had been paid on 5 April 2023.
Sch. 36 modified by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), art. 23D (as inserted (1.6.2009) by S.I. 2009/1172, arts. 1, 3)