PART 3Lifetime allowance
Application of relevant lifetime allowance provisions5
1
The relevant lifetime allowance provisions apply in relation to assistance from the FAS as they apply in relation to benefits that are provided under a registered pension scheme.
2
For the purposes of the relevant lifetime allowance provisions, unless the context requires otherwise—
a
a qualifying member is to be treated as if that qualifying member were a member of a registered pension scheme; and
b
the FAS is to be treated as if it were a registered pension scheme and the FAS scheme manager is to be treated as its scheme administrator.
3
Subject to regulations 6 to 11 of these Regulations, the relevant lifetime allowance provisions are—
a
sections 214 to 226 and 263 of the FA 2004 (lifetime allowance charge and penalty in relation to relevant benefit accrual);
b
Part 2 of Schedule 36 to the FA 2004 (lifetime allowance charge transitional provisions);
c
orders made under section 218(3) of the FA 2004 (individual’s lifetime allowance and standard lifetime allowance); and
d
enhanced lifetime allowance regulations.
4
“Enhanced lifetime allowance regulations” has the meaning given by section 256(2) of the FA 2004 (enhanced lifetime allowance regulations).