42 Pension flexibility: taking low-value pension rights as lump sum
Finance Act 2014 (2014 c 26) | Legislation

42  Pension flexibility: taking low-value pension rights as lump sum

(1)     In paragraph 7(4) of Schedule 29 to FA 2004 (amount of commutation limit for purposes of trivial commutation lump sum) for “£18,000” substitute “£30,000”.

(2)     In paragraph 8 of Schedule 29 to FA 2004 (value of crystallised pension rights for trivial commutation purposes)—

(a)     in sub-paragraph (1)(a) omit “, as adjusted under sub-paragraph (2)”,

(b)     in sub-paragraph (1)(b) omit “, as adjusted under sub-paragraph (3)”, and

(c)     omit sub-paragraphs (2) and (3), as originally enacted and as substituted by FA 2013.

(3)     In consequence of subsection (1), in FA 2011 omit paragraph 4(2) of Schedule 18.

(4)     In consequence of subsection

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