Paragraph 27A F1

Where a person elects to be entitled to a lump sum under section 8(2) of the Pensions Act 2014 or in accordance with regulations made under section 10 of that Act, or fails to make an election, and a lump sum payment has been made, an amount equal to—

(a)

except where sub-paragraph (b) applies, the amount of any payment or payments made on account of that lump sum; or

(b)

the amount of that lump sum,

but only for so long as that person does not change that election in favour of an increase of pension.

Annotations

Textual amendments

F1: Sch. Scheme Sch. 8 para. 27A inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Council Tax Reduction Schemes (Prescribed Requirements and Default Scheme) (Wales) (Amendment) Regulations 2016 (S.I. 2016/50), regs. 1(2), 30(a)