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Finance Act 2008
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Finance Act 2008, Paragraph 9 is up to date with all changes known to be in force on or before 23 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 29 Paragraph 9:
- Sch. 41 para. 6(1A) inserted by 2015 c. 11 Sch. 20 para. 10(2)
- Sch. 41 para. 6A(A1)(1) substituted for Sch. 41 para. 6A(1) by 2015 c. 11 Sch. 20 para. 11(2)
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 41 para. 6(1A) inserted by 2015 c. 11 Sch. 20 para. 10(2)
- Sch. 41 para. 6A(A1)(1) substituted for Sch. 41 para. 6A(1) by 2015 c. 11 Sch. 20 para. 11(2)
9(1)Paragraph 11 (benefit crystallisation event 3: permitted margin) is amended as follows.U.K.
(2)In sub-paragraph (6)—
(a)for “month in which the individual becomes entitled to payment of the pension at the increased rate” substitute “ reference month ”, and
(b)for “month in which the individual became entitled to the pension” substitute “ base month ”.
(3)After sub-paragraph (7) insert—
“(7A)The scheme administrator may select as the reference month any month in the period of 12 months ending with the month in which the individual becomes entitled to payment of the pension at the increased rate.
(7B)The base month is the month which is the same number of months before the month in which the individual became entitled to the pension, as the reference month is before the month in which the individual becomes entitled to payment of the pension at the increased rate.”
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