SCHEDULES

SCHEDULE 16Benefits under pension schemes

Part 3Commencement and transitional provision

Lifetime allowance charge

104

1

The amendments made by paragraphs 43, 44, 73, 80 and 82(2) have effect in relation to benefit crystallisation events occurring on or after 6 April 2011.

2

Any reference in a provision within sub-paragraph (3) to an amount previously crystallised on the designation of sums or assets as available for the payment of drawdown pension includes a reference to an amount crystallised before 6 April 2011 on the designation of sums or assets as available for the payment of unsecured pension.

3

The provisions are—

a

paragraph 3(2) of Schedule 32 to FA 2004 (benefit crystallisation events 1 and 2: prevention of overlap);

b

paragraph 4(2) of that Schedule (benefit crystallisation events 1 and 4: prevention of overlap);

c

paragraph 17(2) of that Schedule (benefit crystallisation event 8: prevention of overlap with other events).