SCHEDULES

F1F1SCHEDULE 23

Annotations:
Amendments (Textual)
F1

Sch. 23 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Lump sums

6

1

This paragraph applies where an employee becomes a member of the scheme on or after 17th March 1987.

C12

If the rules of the scheme allow the employee to obtain, (by commutation of his pension or otherwise), a lump sum or sums calculated by reference to his relevant annual remuneration, they shall have effect as if they included a rule that in calculating a lump sum any excess of that remuneration over the permitted maximum should be disregarded.