SCHEDULES

SCHEDULE 18Lifetime allowance charge

Part 1Amendments

6

1

Paragraph 20 (trivial commutation lump sum death benefit) is amended as follows.

2

In sub-paragraph (2), for “1% of the standard lifetime allowance on the date the lump sum is paid,” substitute “ £18,000, ”.

3

After that sub-paragraph insert—

3

The Treasury may by order substitute for the amount for the time being specified in sub-paragraph (2) such larger amount as is specified in the order.