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Finance Act 2011, Cross Heading: Current alternatively secured pension year to become drawdown pension year is up to date with all changes known to be in force on or before 12 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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93(1)This paragraph applies in the case of a person who, immediately before 6 April 2011, was entitled to alternatively secured pension.U.K.
(2)Where the last alternatively secured pension year began on or after 7 April 2010, the reference in paragraph 9(1)(a) of Schedule 28 to FA 2004 (drawdown pension year) to the day on which the member first becomes entitled to drawdown pension is to be read as a reference to the day on which that alternatively secured pension year began.
(3)Accordingly, any alternatively secured pension year which began on or after 7 April 2010 is to be regarded, on and after 6 April 2011, as a drawdown pension year.
(4)For the purposes of pension rule 5 in section 165 of FA 2004, the amount which, immediately before 6 April 2011, was the basis amount for that alternatively secured pension year by virtue of paragraph 13 of Schedule 28 to FA 2004 continues, on and after that date, to be the basis amount for that year.
(5)In this paragraph “the last alternatively secured pension year” means the alternatively secured pension year in which 5 April 2011 fell.
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