SCHEDULES
SCHEDULE 16Benefits under pension schemes
Part 2Consequential amendments
Finance Act 2004
79
1
Schedule 29 (authorised lump sums) is amended as follows.
2
In paragraph 1 (pension commencement lump sum), in sub-paragraph (3)(b), omit “, otherwise than by virtue of the operation of paragraph 8(2) of Schedule 28,”.
3
In paragraph 3 (pension commencement lump sum: calculation of applicable amount)—
a
in sub-paragraph (1)(a), for “unsecured pension” substitute “
drawdown pension
”
;
b
in sub-paragraph (5)(a), for “member's unsecured pension fund” substitute “
member's drawdown pension fund
”
;
c
in sub-paragraph (8)(a), for “member's unsecured pension fund” substitute “
member's drawdown pension fund
”
.
4
In paragraph 15 (uncrystallised funds lump sum death benefit), in sub-paragraph (2)(b), for “unsecured pension” substitute “
drawdown pension
”
.