Taxation of Pensions Act 2014 (c. 30)

SCHEDULES

SCHEDULE 1 U.K. Pension flexibility etc

Part 2 U.K. Annuities

Reduction of restrictions on new annuities U.K.

37 U.K. In paragraph 3 (definition of member's lifetime annuity) after sub-paragraph (1) insert—

“(1A) For the purposes of this Part, but subject to any provision made under sub-paragraph (2C)(za), an annuity payable to the member is also a lifetime annuity if—

(a) it is payable by an insurance company,

(b) the member becomes entitled to it on or after 6 April 2015, and

(c) it is payable until the member's death or until the later of the member's death and the end of a term certain.”