2Restriction and reduction of tax charges on certain lump sums
(1)
Chapter 5 of Part 4 of FA 2004 (registered pension schemes: tax charges) is amended as follows.
(2)
In section 206(1) (special lump sum death benefits charge arises where certain lump sums are paid by a registered pension scheme) after “registered pension scheme” insert “
in respect of a member who had reached the age of 75 at the date of the member's death
”
.
(3)
In section 206(4) (special lump sum death benefits charge: rate of charge) for “55%” substitute “
45%
”
.
F1(4)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)
The amendments made by this section apply to lump sums paid on or after 6 April 2015.