[227G When pension rights are first flexibly accessed]
Finance Act 2004 (2004 c 12) | Legislation

[227G  When pension rights are first flexibly accessed]

[(1)     References in sections 227B to 227F to when the individual first flexibly accesses pension rights are to the time, or the earlier or earliest of the times, given for that by the following subsections.

(2)     If—

(a)     the individual has a member's flexi-access drawdown fund in respect of an arrangement, and

(b)     the fund came into being—

(i)     as a result of sums or assets being designated on or after 6 April 2015 as available for the payment of drawdown pension, or

(ii)     as a result of the operation of paragraph 8D(2) of Schedule 28,

the individual first flexibly accesses pension rights immediately before the first qualifying payment is made from the fund (see subsection (10)).

(3)     If section 165(3A) applied in the individual's case to an arrangement at any time before 6 April 2015, the individual first flexibly accesses

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