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8.—(1) The Registered Pension Schemes (Authorised Payments) Regulations 2009(1) are amended as follows.
(2) In regulation 7 (meaning of “relevant accretion”), after paragraph (3) insert—
“(3A) For the purposes of determining whether all or part of the member’s lifetime allowance is available under paragraph (3)—
(a)the fact that benefit crystallisation event 5 or benefit crystallisation event 5B has occurred in relation to the member is to be disregarded, and
(b)anything which, but for paragraph 2 or 15A of Schedule 32(2), would have been such a benefit crystallisation event is to be treated as if it were such an event.”.
(3) Omit regulation 9 (payments to or in respect of members who were untraceable).
(4) In regulation 10(3)(b) (payments to members receiving annuities) for “1% of the standard lifetime allowance” substitute “£18,000”.
(5) In regulations 11(1)(a) (de minimis rule for pension schemes) and 12(1)(c) (payments by larger pensions schemes) omit “, but has not reached the age of 75”.
(6) Omit regulation 16(1)(b) (payments of arrears of pension after death).
Paragraph 15A was inserted by paragraph 44(3) of Schedule 16 to the Finance Act 2011.
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