Finance Act 2011, Paragraph 34 is up to date with all changes known to be in force on or before 09 March 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.
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,”.
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