# Finance Act 2008, Paragraph 3


(1) Section 172A (surrender) is amended as follows.
(2) In subsection (1), at the end of paragraph (a) (but before the “or”) insert—
“(aa) any rights to payments under a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme,”.
(3) In subsection (3)(a), for “relating to” substitute “ in respect of ”.
(4) In subsection (5), after paragraph (c) insert—
“(ca) a surrender of (or agreement to surrender) rights to payments under an annuity in any case covered by regulations under paragraph 3(2B) or 17(3) of Schedule 28;”.
(5) After subsection (9) insert—
“(9A) References in this section to a benefit to which the member or a person has an entitlement under the pension scheme includes rights to payments under—
(a) a scheme pension or dependants' scheme pension provided by the scheme administrator or as a result of the application of sums or assets held for the purposes of the pension scheme, or
(b) a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme.”

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Source: https://www.legislation.gov.uk/ukpga/2008/9/schedule/28/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2008/schedule-28/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.