Paragraph 23
United Kingdom
This paragraph applies in relation to a registered pension scheme and a member of the pension scheme if—
the pension scheme is a protected pension scheme, and
the retirement condition is met in relation to the member and the pension scheme.
A pension scheme is a protected pension scheme if condition A or condition B is met.
Condition A is met if—
the pension scheme was within paragraph (f) or (g) of paragraph 1(1), and
the entitlement condition is met in relation to the member and the pension scheme.
The entitlement condition is met in relation to the member and the pension scheme if—
on 5th April 2006 the member had an actual or prospective right under the pension scheme to a pension from an age of less than 50, and
the member’s occupation was on that date (or had been) one prescribed by regulations made by the Board of Inland Revenue.
Condition B is met if the member is a member of the pension scheme F1(“a transferee pension scheme”) as a result of—
a block transfer from the pension scheme (“the original pension scheme”) in relation to which condition A is met to the transferee pension scheme, or
a block transfer to the transferee pension scheme from a pension scheme that was a transferee pension scheme in relation to the original pension scheme by virtue of the previous application of paragraph (a) or the previous application (on one or more occasions) of this paragraph.
“Block transfer” has the same meaning as in paragraph 22(6) F2and (6A), but for this purpose paragraph 22(6A)(c) is to be read as if its reference to paragraph 22(7)(a) were a reference to sub-paragraph (7) of this paragraph.
The retirement condition is met in relation to the member and the pension scheme if the member becomes entitled to all the pensions payable to the member under arrangements under the pension scheme (to which the member did not have an actual entitlement on or before 5th April 2006) on the same date.
The member’s protected pension age is the age from which the member had an actual or prospective right to a pension under the protected pension scheme on 5th April 2006 (or, where condition B is met, under the original pension scheme on that date).
Annotations
Textual amendments
- F1
Words in Sch. 36 para. 23(5) substituted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 55(5), 64(1)
- F2
Words in Sch. 36 para. 23(6) inserted (19.3.2014) by Finance Act 2014 (c. 26), Sch. 5 paras. 7(2), 15
Modifications
- C1
Sch. 36 para. 23(7) modified by S.I. 2006/572, art. 42(3) (as inserted (with effect in accordance with art. 1(3) of the amending S.I.) by The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order 2011 (S.I. 2011/732), arts. 1(1), 4)
- C2
Sch. 36 para. 23(7) modified by S.I. 2006/572, art. 43(4) (as inserted (with effect in accordance with art. 1(3) of the amending S.I.) by The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order 2011 (S.I. 2011/732), arts. 1(1), 4)
Notes on Schedule 36
Modifications
- C1
Sch. 36 applied (1.6.2018) by The Local Government Pension Scheme (Scotland) Regulations 2018 (S.S.I. 2018/141), regs. 1(1), 48(2)
- C2
Sch. 36 modified by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), art. 23D (as inserted (1.6.2009) by S.I. 2009/1172, arts. 1, 3; and as amended (for the tax year 2024-25 and subsequent tax years) by S.I. 2024/1012, regs. 1(2)(3), 25(15) and by S.I. 2026/698, regs. 1(2)(6), 14(3))
Notes on Part 3
Modifications
- C1
Sch. 36 Pt. 3 modified (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 31(1)
Notes on Rights to take benefit before normal minimum pension age
Textual amendments
- F1
Word in Sch. 36 para. 21 heading substituted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 54(3), 64(1)
- F1
Sch. 36 para. 22 cross-heading inserted (24.2.2022) by Finance Act 2022 (c. 3), s. 10(6)(a)