Paragraph 5

Paragraph 10 (winding-up lump sum) is amended as follows.

In sub-paragraph (2), for “1% of the standard lifetime allowance when the lump sum is paid,” substitute “ £18,000, ”.

After that sub-paragraph insert—

“(2A)

The Treasury may by order substitute for the amount for the time being specified in sub-paragraph (2) such larger amount as is specified in the order.”