SCHEDULES

SCHEDULE 29 U.K. Registered pension schemes: authorised lump sums—supplementary

Modifications etc. (not altering text)

C1 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

C2 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))

Part 1 U.K. Lump sum rule

Modifications etc. (not altering text)

C3 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)

C4 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

Serious ill-health lump sum U.K.

4 (1) For the purposes of this Part a lump sum is a serious ill-health lump sum if— U.K.

(a) before it is paid the scheme administrator has received evidence from a registered medical practitioner that the member is expected to live for less than one year,

(b) it is paid when all or part of the member’s lifetime allowance is available,

(c) it is paid in respect of an uncrystallised arrangement, [F1 and]

(d) it extinguishes the member’s entitlement to benefits under the arrangement, F2 ...

F2 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) An uncrystallised arrangement is an arrangement in respect of which there has been no previous benefit crystallisation event.

[F3 (3) For the purposes of sub-paragraph (2)—

(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 of Schedule 32, would have been a benefit crystallisation event is to be treated as if it were such an event.]

Textual Amendments

F1 Word in Sch. 29 para. 4(1)(c) inserted (with effect in accordance with Sch. 16 paras. 85, 102 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 28(2)(a)

F2 Sch. 29 para. 4(1)(e) and word omitted (with effect in accordance with Sch. 16 paras. 85, 102 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 28(2)(b)

F3 Sch. 29 para. 4(3) inserted (with effect in accordance with Sch. 16 paras. 85, 102 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 28(3)

Modifications etc. (not altering text)

C5 Sch. 29 para. 4(1) modified (6.4.2006) by The Registered Pension Schemes (Splitting of Schemes) Regulations 2006 (S.I. 2006/569), regs. 1(1), 3(1)(2), Sch. 3 Pt. 1

C6 Sch. 29 para. 4(2) modified (6.4.2006) by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), arts. 1(1), 33(1)-(3)