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41. In rule IA2(1)(1) (commutation of the pension credit benefits), for “In the circumstances described in regulation 3(2)(b) of the Pension Sharing (Pension Credit Benefit) Regulations 2000 (commutation of pension credit benefit: small pensions)” substitute “Where the amount of pension payable under rule IA1 does not exceed the trivial commutation lump sum limit in paragraph 7 of Schedule 29 to the Finance Act 2004 (lump sum rule)(2)”.
Rule IA2 was inserted by S.I. 2001/3691; paragraph (1) was amended in relation to England by S.I. 2005/2980; the rule was revoked in relation to England, with savings, by S.I. 2006/3432.
2004 c. 12; there are amendments to Part 1 of Schedule 29 not relevant to these Regulations.
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