34(1)Paragraph 14 (pension protection lump sum death benefit) is amended as follows.U.K.
(2)In sub-paragraph (1), omit paragraph (a).
(3)In sub-paragraph (3), for the definition of “AC” substitute— “AC is—
(a)in a case where the member became entitled to the pension before reaching the age of 75, the amount crystallised by reason of the member becoming entitled to the pension, and
(b)in a case where the member became entitled to the pension after having reached that age, the amount that would have been so crystallised but for paragraph 2 of Schedule 32,”.