There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Taxation of Pension Schemes (Transitional Provisions) Order 2006. Any changes that have already been made by the team appear in the content and are referenced with annotations.
32.—(1) In the case of an individual who meets the conditions set out in paragraph (2), paragraph (3) applies.
(2) The conditions are as follows.
Condition A
The individual had reached the age of 75 before 6th April 2006.
Condition B
The individual is a dependant of a member who was a member of a scheme which falls within sub-paragraph 1(1)(a) of Schedule 36.
Condition C
The individual was, on 5th April 2006, entitled to a pension which was not provided under a defined benefits arrangement and was payable from the resources of—
a small self-administered scheme as defined in regulation 2 of the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Small Self-administered Schemes) Regulations 1991, or
a small self-administered scheme that had been approved under section 590 of ICTA,
and the rules of the scheme on 5th April 2006 did not require the purchase of an annuity in respect of the individual.
(3) Paragraph 25(1) of Schedule 28 (dependant’s alternatively secured pension fund)(1) shall be modified as follows—
(a)after the words “held for the purposes of the arrangement as” add the words “meet condition A, B or C.”.
(b)omit sub-paragraphs (1)(a) and (b).
(c)after sub-paragraph (3) add—
“(3A) Condition C is that immediately before the 6th April 2006 —
(a)the sums and assets were part of the dependant’s pension fund which fell within sub-paragraph 1(1)(a)of Schedule 36; and
(b)the dependant was drawing a pension payable from the resources of—
(i)a small self-administered scheme as defined in regulation 2 of the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Small Self-administered Schemes) Regulations 1991, or
(ii)a small self-administered scheme that had been approved under section 590 of ICTA,
and the rules of the scheme on 5th April 2006 did not require the purchase of an annuity in respect of the dependant.”.
Commencement Information
I1Art. 32 in force at 6.4.2006, see art. 1(1)
Paragraph 25 of Schedule 28 of the Finance Act 2004 was amended by paragraph 23 of Schedule 10 to the Finance Act 2005.
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