There are currently no known outstanding effects for the Finance Act 2013, Paragraph 8.
8(1)Part 1 of Schedule 29 (authorised lump sums: lump sum rule) is amended as follows.U.K.
(2)In paragraph 2 (which applies for the purpose of determining pension commencement lump sums) after sub-paragraph (8) insert—
“(9)Sub-paragraph (10) applies if the member is a protected individual (but not if this paragraph applies with the modifications set out in paragraph 27 or 28 of Schedule 36).
(10)Sub-paragraphs (6) and (7) have effect as if CSLA were £1,500,000 if that is greater than CSLA.
(11)The member is a “protected individual” if—
(a)paragraph 7 of Schedule 36 (primary protection) makes provision for a lifetime allowance enhancement factor in relation to the member, or
(b)at the time the member becomes entitled to the lump sum, paragraph 12 of that Schedule (enhanced protection) applies in relation to the member.”
(3)The amendment made by sub-paragraph (2) has effect for cases in which the member becomes entitled to the lump sum on or after 6 April 2014.
F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)The amendment made by sub-paragraph (4) has effect for cases in which the nominated date falls on or after 6 April 2014.
Textual Amendments
F1Sch. 22 para. 8(4) omitted (with effect in accordance with s. 42(8) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 42(4)
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
