Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 16 U.K. Benefits under pension schemes

Part 1 U.K. Changes to benefits available under pension schemes etc

Lump sums to be payable to persons aged 75 or over U.K.

25 U.K. In paragraph 2 (pension commencement lump sum: calculation of permitted maximum), after sub-paragraph (7) insert—

“(7A) For the purposes of determining the available portion of the member's lump sum allowance—

(a) the fact that benefit crystallisation event 5 or benefit crystallisation event 5B has occurred in relation to the member is to be disregarded, and

(b) anything which, but for paragraph 2 or 15A of Schedule 32, would have been a benefit crystallisation event is to be treated as if it were such an event.”