Finance Act 2021

23 (1) Schedule 36 (transitional provision and savings) is amended as follows.

(2) In paragraph 29 (lump sum rights exceeding £375,000: primary and enhanced protection), in sub-paragraph (3)—

(a) in the substitute paragraph 3(6) of Schedule 29, after “defined benefits arrangement” insert “or a collective money purchase arrangement”;

(b) in the substitute paragraph 3(7A) of Schedule 29, after “money purchase arrangement” insert “that is not a collective money purchase arrangement”.

(3) In paragraph 34 (entitlement to lump sums exceeding 25% of uncrystallised rights), in sub-paragraph (2), in the substitute paragraph 2(7AA) of Schedule 29, after “money purchase arrangement” insert “that is not a collective money purchase arrangement”.