230 Cash balance arrangements
Finance Act 2004 (2004 c 12) | Legislation

230  Cash balance arrangements

(1)     The pension input amount in respect of a cash balance arrangement is the amount of any increase in the value of the individual's rights under the arrangement during the pension input period of the arrangement that ends in the tax year.

(2)     There is an increase in the value of the individual's rights under the arrangement during the pension input period if—

(a)     the opening value of the individual's rights under the arrangement, is exceeded by

(b)     the closing value of the individual's rights under the arrangement.

(3)     The amount of the increase in the value of the individual's rights under the arrangement during the pension input period is the amount of that excess.

[(4)     The opening value of the individual's rights under the arrangement—

(a)     where the pension input period is the first pension input period of the arrangement, is the amount which would, on the valuation assumptions (see section 277), be available for the provision of benefits to or in respect of the individual under the arrangement if the individual became entitled to the benefits immediately before that pension input period (or is nil if no such amount would be available), or

(b)

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