Paragraph 79

(1)

Schedule 29 (authorised lump sums) is amended as follows.

(2)

In paragraph 1 (pension commencement lump sum), in sub-paragraph (3)(b), omit “, otherwise than by virtue of the operation of paragraph 8(2) of Schedule 28,”.

(3)

In paragraph 3 (pension commencement lump sum: calculation of applicable amount)—

(a)

in sub-paragraph (1)(a), for “unsecured pension” substitute “ drawdown pension ”;

(b)

in sub-paragraph (5)(a), for “member's unsecured pension fund” substitute “ member's drawdown pension fund ”;

(c)

in sub-paragraph (8)(a), for “member's unsecured pension fund” substitute “ member's drawdown pension fund ”.

(4)

In paragraph 15 (uncrystallised funds lump sum death benefit), in sub-paragraph (2)(b), for “unsecured pension” substitute “ drawdown pension ”.