Taxation of Pensions Act 2014 (c. 30)

SCHEDULES

SCHEDULE 1 U.K. Pension flexibility etc

Part 1 U.K. Drawdown pensions

Annual cap on pension drawdown abolished for flexi-access drawdown funds U.K.

1 U.K. In section 165(1) of FA 2004 (the pension rules) in pension rule 5 (annual cap on drawdown pension) after “in each drawdown pension year” insert “ from, or under a short-term annuity purchased using sums or assets out of, the member's drawdown pension fund ”.