Schedules

Schedule 9Pensions

Part 3Non-UK schemes

59Amendments of Part 4 of FA 2004

1

Schedule 33 (overseas pension schemes: migrant member relief) is amended as follows.

2

In paragraph 4 (meaning of “relevant migrant member”)—

a

in sub-paragraph (1)(d), after “events that are” insert “relevant”;

b

after sub-paragraph (3) insert—

4

In this paragraph “relevant benefit crystallisation event” has the same meaning as in section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance).

3

In paragraph 5 (meaning of “qualifying” overseas pension scheme)—

a

in sub-paragraph (2), for “events that are benefit crystallisation” substitute “relevant”;

b

for sub-paragraph (2A) substitute—

2A

In sub-paragraph (2) “relevant events” means—

a

relevant benefit crystallisation events, or

b

occasions that are, or could (depending on their timing) be, occasions on which an individual first flexibly accesses pension rights for the purposes of sections 227B to 227F.

c

after sub-paragraph (5) insert—

6

In this paragraph “relevant benefit crystallisation event” has the same meaning as in section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance).