SCHEDULES
SCHEDULE 32Registered pension schemes: benefit crystallisation events ...
Benefit crystallisation events 2 and 4: early lifetime annuities
7
(1)
This paragraph has effect if—
(a)
the individual becomes entitled before reaching normal minimum pension age to the payment of a lifetime annuity purchased under a money purchase arrangement under any of the relevant pension schemes, and
(b)
the ill-health condition is not satisfied immediately before the individual becomes so entitled.
(2)
Benefit crystallisation event 2 applies as if—
(a)
the lifetime annuity were a scheme pension under the pension scheme, and
(b)
the individual becomes entitled to it only on reaching normal minimum pension age.
(3)
Benefit crystallisation event 4 does not apply in relation to the lifetime annuity.
F1(4)
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F2(5)
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