SCHEDULES

SCHEDULE 4Pensions: lifetime allowance: transitional provision

PART 1“Fixed protection 2016”

Protection-cessation events

3

There is a protection-cessation event if F1the reference number for the purposes of paragraph 1(2) was issued pursuant to an application made on or after 15 March 2023 and—

a

there is benefit accrual in relation to the individual under an arrangement under a registered pension scheme,

b

there is an impermissible transfer into any arrangement under a registered pension scheme relating to the individual,

C1c

a transfer of sums or assets held for the purposes of, or representing accrued rights under, any such arrangement is made that is not a permitted transfer, or

d

an arrangement relating to the individual is made under a registered pension scheme otherwise than in permitted circumstances.