# Finance Act 2004, Paragraph 13

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

Relevant benefit accrual occurs in relation to an individual under an arrangement—
(a) in the case of a money purchase arrangement that is not a cash balance arrangement, if a relevant contribution is paid under the arrangement or, where the arrangement has been a hybrid arrangement, if a relevant contribution was so paid at any time after 5th April 2006, (see paragraph 14), and
(b) in the case of a cash balance arrangement or defined benefits arrangement, if, when the individual becomes entitled to any pension or lump sum or a transfer that is a permitted transfer by virtue of paragraph 12(8)(a) (a “relevant event”) occurs in relation to the individual and the arrangement, the relevant crystallised amount exceeds the appropriate limit (see paragraph 15).

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/36/paragraph/13 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-36/paragraph-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.