Modifications etc. (not altering text)
C1Sch. 32 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 16
C2Sch. 32 applied (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 23(5)
7(1)This paragraph has effect if—U.K.
(a)the individual becomes entitled before reaching normal minimum pension age to the payment of a lifetime annuity purchased under a money purchase arrangement under any of the relevant pension schemes, and
(b)the ill-health condition is not satisfied immediately before the individual becomes so entitled.
(2)Benefit crystallisation event 2 applies as if—
(a)the lifetime annuity were a scheme pension under the pension scheme, and
(b)the individual becomes entitled to it only on reaching normal minimum pension age.
(3)Benefit crystallisation event 4 does not apply in relation to the lifetime annuity.
Commencement Information
I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284