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Finance Act 2011

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Changes over time for: Paragraph 27

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Changes to legislation:

Finance Act 2011, Paragraph 27 is up to date with all changes known to be in force on or before 27 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. Help about Changes to Legislation

27(1)Paragraph 3A (recycling of pension commencement lump sums) is amended as follows.U.K.

(2)In sub-paragraph (2), for “sub-paragraphs (3) and (4)” substitute “ sub-paragraphs (3) to (4A) ”.

(3)After sub-paragraph (4) insert—

(4A)This paragraph does not apply if—

(a)the member has reached the age of 75 when the contributions are paid as mentioned in sub-paragraph (2)(a), and

(b)the contributions are not paid by an employer of the member.

(4)For sub-paragraph (5) substitute—

(5)The appropriate amount” is—

(a)where the member becomes entitled to the lump sum before reaching the age of 75, so much of the amount crystallised by the benefit crystallisation event constituted by its payment (or the amount that would have been so crystallised but for paragraph 15A of Schedule 32) as does not exceed the amount of the member's lifetime allowance which is available on it;

(b)where the member becomes entitled to the lump sum after reaching that age, the amount of the lump sum.

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