# Finance Act 2004, Paragraph 7

Extent: E+W+S+N.I.

(1) This paragraph has effect if—
(a) the individual becomes entitled before reaching normal minimum pension age to the payment of a lifetime annuity purchased under a money purchase arrangement under any of the relevant pension schemes, and
(b) the ill-health condition is not satisfied immediately before the individual becomes so entitled.
(2) Benefit crystallisation event 2 applies as if—
(a) the lifetime annuity were a scheme pension under the pension scheme, and
(b) the individual becomes entitled to it only on reaching normal minimum pension age.
(3) Benefit crystallisation event 4 does not apply in relation to the lifetime annuity.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/32/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-32/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.