SCHEDULES
SCHEDULE 4Pensions: lifetime allowance: transitional provision
PART 4Information
Amendments of regulations
25
1
Regulation 11 (information provided to scheme administrator by member intending to rely on transitional protection in connection with lifetime allowance) is amended as follows.
2
In paragraph (1)—
a
omit the “or” at the end of sub-paragraph (b),
b
after sub-paragraph (c) (but before the closing words of paragraph (1)) insert
, or
d
fixed protection 2016 by virtue of Part 1 of Schedule 4 to the Finance Act 2016,
c
in those closing words—
i
before “the Commissioners” insert “
or on behalf of
”
, and
ii
before “in respect of that entitlement” insert “
or Schedule 4 to the Finance Act 2016
”
.
3
After paragraph (2) insert—
3
If the member of a registered pension scheme intends to rely on individual protection 2016 by virtue of Part 2 of Schedule 4 to the Finance Act 2016, the member must notify the scheme administrator of—
a
the reference number in respect of the member issued by or on behalf of the Commissioners for the purposes of paragraph 9(2) of that Schedule, and
b
the member's relevant amount calculated in accordance with Part 2 of that Schedule.
4
In the heading—
a
for the “or” substitute a comma, and
b
at the end insert “
, fixed protection 2016 or individual protection 2016
”
.