SCHEDULE 16Benefits under pension schemes
Part 2Consequential amendments
Finance Act 2004
80
(1)
Schedule 32 (benefit crystallisation events: supplementary) is amended as follows.
(2)
In paragraph 3 (benefit crystallisation events 1 and 2: prevention of overlap)—
(a)
in sub-paragraph (1), for “unsecured pension fund” substitute “
drawdown pension fund
”
;
(b)
in sub-paragraph (2), for “unsecured pension” substitute “
drawdown pension
”
.
(3)
In paragraph 4 (benefit crystallisation events 1 and 4: prevention of overlap)—
(a)
in sub-paragraph (1), for “unsecured pension fund” substitute “
drawdown pension fund
”
;
(b)
in sub-paragraph (2), for “unsecured pension” substitute “
drawdown pension
”
.
(4)
In paragraph 5 (benefit crystallisation events 1 and 5: hybrid arrangements), in sub-paragraph (2), omit the words from “(with the effect that” to the end.
(5)
In paragraph 17 (benefit crystallisation event 8: prevention of overlap with other events), in sub-paragraph (2)—
(a)
for “unsecured pension fund” substitute “
drawdown pension fund
”
;
(b)
for “unsecured pension” substitute “
drawdown pension
”
.