http://www.legislation.gov.uk/id/ukpga/2014/26/schedule/5

SCHEDULES

SCHEDULE 5Pension flexibility: further amendments

Operation of enhanced protection of pre-6 April 2006 rights to take lump sums

8

In paragraph 29 of Schedule 36 to FA 2004 (modifications of paragraph 3 of Schedule 29 to FA 2004 for cases where there is enhanced protection) after sub-paragraph (3) insert—

4
Paragraph 3 applies as if in sub-paragraph (8A)(a) for “is one third of” there were substituted “is—
$\frac{VULSR}{VUR} \times (LS + CAPP)$
where VULSR, VUR and LS have the same meaning as in sub-paragraph (1), and CAPP is”.
5
Paragraph 3 applies as if in sub-paragraph (8A)(b) for “is one third of the sums, plus one third of” there were substituted “is—
$\frac{VULSR}{VUR} \times (LS + EP)$
where VULSR, VUR and LS have the same meaning as in sub-paragraph (1), and EP is the total of the sums, and”.