Part 1 Lump Sum Rule
Finance Act 2004 (2004 c 12) | Legislation

SCHEDULE 29 Registered Pension Schemes: Authorised Lump Sums—Supplementary

Sections 166 and 168

Part 1 Lump Sum Rule

Pension commencement lump sum

1

(1)     For the purposes of this Part a lump sum is a pension commencement lump sum if—

[(a)     . . .

[(aa)     the member becomes entitled to it either—

(i)     in connection with becoming entitled to a relevant pension (or dies after becoming entitled to it, but before becoming entitled to the relevant pension in connection with which it was anticipated that the member would become entitled to it), or

(ii)     in connection with a trivial commutation lump sum within paragraph 7A,]]

(b)     it is paid when all or part of the member's [lump sum allowance is available, and all or part or the member's lump sum and death benefit allowance is available (see paragraph 12A),]

(c)     it is paid within the period [beginning six months before, and ending one year after,] the day on which the member becomes entitled to it, [and]

(d)     it is paid when the member has reached normal minimum pension age (or the ill-health condition is satisfied),

(e)     . . . . . .

(f)     . . ..

(2)     But if a lump sum falling within sub-paragraph

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