# Finance Act 2021, Paragraph 21


(1) Schedule 29 (authorised lump sums - supplementary) is amended as follows.
(2) In paragraph 1 (pension commencement lump sum)—
(a) in sub-paragraph (1)(f), for “sub-paragraph (4)” substitute “ sub-paragraphs (4) and (4A) ”;
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) In paragraph 2 (pension commencement lump sum), in sub-paragraph (6B), after “money purchase arrangement” insert “ that is not a collective money purchase arrangement ”.
(4) In paragraph 3 (pension commencement lump sum: definition of “the applicable amount” for the purposes of paragraph 2(5))—
(a) in sub-paragraph (6), after “defined benefits arrangement” insert “ or a collective money purchase arrangement ”;
(b) in sub-paragraph (7A), after “money purchase arrangement” insert “ that is not a collective money purchase arrangement ”.
(5) In paragraph 4A (uncrystallised funds pension lump sum), in sub-paragraph (1)(a), after “money purchase arrangement” insert “ that is not a collective money purchase arrangement ”.
(6) In paragraph 7 (trivial commutation lump sum), in sub-paragraph (1)—
(a) in paragraph (aa)—
(i) after “defined benefits arrangement,” insert “ or in respect of a collective money purchase arrangement, ”;
(ii) after “under a money purchase arrangement” insert “ that is not a collective money purchase arrangement ”;
(iii) for “or partly in respect of the former and partly in respect of the latter” substitute “ or in respect of any combination of such arrangements and scheme pensions ”;
(b) in paragraph (d), after “defined benefits” insert “ , and any entitlement to collective money purchase benefits, ”.

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Source: https://www.legislation.gov.uk/ukpga/2021/26/schedule/5/paragraph/21 (the official version)
Page: https://openlegislation.uk/finance-act-2021/schedule-5/paragraph-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.