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Annual allowance charge
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15.—(1) This regulation applies to a person (P) who—
(a)is a member of an old scheme whether by virtue of pensionable service for that scheme or deemed transfer scheme service under paragraph 2 of Schedule 7 to the 2013 Act (final salary link);
(b)is a member of the new scheme by virtue of pensionable service for the new scheme; and
(c)becomes entitled to payment of an ill-health pension under the transitional provisions of the new scheme.
(2) Section 234 of the Finance Act 2004() (defined benefits arrangements) is modified in its application to P as specified in paragraph (3).
(3) When calculating the closing value of P’s rights under the new scheme for the pension input period during which P becomes entitled to payment of the ill-health pension, the element of the ill-health pension that represents pensionable service in the old scheme is not to be counted as being part of the closing value.
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