SCHEDULES

SCHEDULE 32 U.K.Registered pension schemes: benefit crystallisation events—supplementary

Modifications etc. (not altering text)

C1 Sch. 32 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), 16

C2 Sch. 32 applied (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 23(5)

Benefit crystallisation events 1, 2 and 4: prevention of overlap U.K.

[F1 2B (1) This paragraph applies for the purposes of benefit crystallisation event 1 where the sums or assets designated are, after the designation, held for the purposes of a CMP-derived drawdown pension. U.K.

(2) The amount crystallised by the event is to be reduced by the amount (or an appropriate proportion of the amount) crystallised on the individual becoming entitled to a scheme pension under the collective money purchase arrangement for the purposes of which the sums or assets were previously held.]

Textual Amendments

F1 Sch. 32 para. 2B substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 24(8)