SCHEDULES
C1SCHEDULE 28Registered pension schemes: authorised pensions—supplementary
Part 1Pension rules
F1Conversion of certain drawdown pension funds into flexi-access drawdown funds
Sch. 28 paras. 8A-8D and cross-headings inserted (17.12.2014) (with effect in accordance with Sch. 1 para. 3(2) of the amending Act) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 para. 3(1)
8C
1
Sub-paragraph (2) applies if—
a
a member's drawdown pension fund in respect of an arrangement came into being before 6 April 2015,
b
section 165(3A) did not apply to the arrangement immediately before 6 April 2015, and
c
the member notifies the F2scheme manager that the member wishes the fund to become the member's flexi-access drawdown fund in respect of the arrangement.
2
At—
a
the time the F2scheme manager accepts the notification, or
b
the start of 6 April 2015 if that is later,
the sums and assets that then make up that fund become newly-designated funds, if they have not previously done so by the operation of paragraph 8B.
Sch. 28 modified by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 14 (as substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by S.I. 2012/1795, regs. 1(1), 5)