234 Defined benefits arrangements
Finance Act 2004 (2004 c 12) | Legislation

234  Defined benefits arrangements

(1)     The pension input amount in respect of a defined benefits 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 is—

([16] × PB) + LSB

°Ú·É³ó±ð°ù±ð—

PB is—

(a)     if the pension input period is the first pension input period of the arrangement, the annual rate of the pension which would, on the valuation assumptions (see section 277), be payable to the individual under the arrangement if the individual became entitled to payment of it immediately before that pension input period (or is nil if no such annual

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