PART 2Modifications of Part 4 of the Finance Act 2004
CHAPTER 3Benefits
Pension commencement lump sum already paid: status of overpaid amount unaffectedI129
1
Paragraph (2) applies where—
a
an individual has at any time been paid a pension commencement lump sum, and
b
as a result of a relevant rectification provision, the payment includes an amount (“the overpaid lump sum amount”) which (disregarding this regulation) has ceased to be a pension commencement lump sum.
2
The overpaid lump sum amount is to be treated as, and is to be treated as always having been, a pension commencement lump sum.