{
  "url": "https://openlegislation.uk/finance-act-2016/schedule-4/paragraph-28",
  "json_url": "https://openlegislation.uk/finance-act-2016/schedule-4/paragraph-28.json",
  "legislation": "ukpga/2016/24",
  "legislation_title": "Finance Act 2016",
  "legislation_url": "https://openlegislation.uk/finance-act-2016",
  "path": "schedule/4/paragraph/28",
  "kind": "paragraph",
  "number": "28",
  "heading": null,
  "text": "(1) In Part 1 of Schedule 29 to FA 2004 (pension schemes: interpretation of the lump sum rule), in paragraph 2 (permitted maximum amount of pension commencement lump sums, calculated in certain cases by deducting adjusted value of previously crystallised amounts from current standard lifetime allowance), in sub-paragraph (10) (modified adjustments where member has protection under paragraph 7 or 12 of Schedule 36 by reference to pre-6 April 2006 rights), after “have effect” insert\n“—\n(a) where the member becomes entitled to the lump sum on or after 6 April 2014, as if PSLA in the case of any previous benefit crystallisation event which occurs on or after 6 April 2014 were £1,500,000 if that is greater than PSLA in that case, and”.\n(b)\n(2) In paragraph 28(3) of Schedule 36 to FA 2004 (transitional provision for pre-6 April 2006 rights: modified version of paragraph 2 of Schedule 29 that applies in certain cases), in the sub-paragraph (7) treated as substituted in paragraph 2 of Schedule 29 to FA 2004, in the definition of “ PSLA ”, after “became entitled to the lump sum” insert “ if that occurred before 6 April 2012 but, if that occurred on or after 6 April 2012, PSLA is the greater of £1,800,000 and the standard lifetime allowance at the time the individual became entitled to the lump sum ”.\n(3) The amendment made by sub-paragraph (1) is treated as having come into force on 6 April 2014.\n(4) The amendment made by sub-paragraph (2) is treated as having come into force on 6 April 2012.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/24/schedule/4/paragraph/28",
    "retrieved_at": "2026-10-29T09:06:05.350093+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}