SCHEDULES

SCHEDULE 16Benefits under pension schemes

Part 1Changes to benefits available under pension schemes etc

Lump sums to be payable to persons aged 75 or over

31

In paragraph 12 (interpretation of Part 1), after sub-paragraph (1) insert—

1A

For the purposes of determining whether all or part of the member's lifetime allowance is available—

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.