SCHEDULES
C3C4SCHEDULE 29Registered pension schemes: authorised lump sums—supplementary
Sch. 29 modified by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), art. 23C (as inserted (1.6.2009) by S.I. 2009/1172, arts. 1, 3; and amended (with effect in accordance with art. 1(3) of the amending S.I.) by S.I. 2011/1782, arts. 1(1), 2(3))
C3C1C2Part 1Lump sum rule
Sch. 29 Pt. 1 modified (6.4.2006) by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), arts. 1(1), 25(1)(2)(4)
Sch. 29 Pt. 1 applied (with modifications) (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 11
Lifetime allowance excess lump sum
11
For the purposes of this Part a lump sum is a lifetime allowance excess lump sum if—
a
it is paid when none of the member’s lifetime allowance is available,
b
it is not a short service refund lump sum or a refund of excess contributions lump sum,
c
it does not reduce the rate of payment of any pension to which the member has become (actually) entitled, or extinguish the member’s entitlement to payment of any such pension,
d
it is paid when the member has reached normal minimum pension age (or the ill-health condition is met), and
e
it is paid when the member has not reached the age of 75.
Sch. 29 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 15