Paragraph 23 I1

(1)

Schedule 36 (transitional provision and savings) is amended as follows.

(2)

In paragraph 29 (lump sum rights exceeding £375,000: primary and enhanced protection), in sub-paragraph (3)—

(a)

in the substitute paragraph 3(6) of Schedule 29, after “ defined benefits arrangement ” insert “ or a collective money purchase arrangement ”;

(b)

in the substitute paragraph 3(7A) of Schedule 29, after “ money purchase arrangement ” insert “ that is not a collective money purchase arrangement ”.

(3)

In paragraph 34 (entitlement to lump sums exceeding 25% of uncrystallised rights), in sub-paragraph (2), in the substitute paragraph 2(7AA) of Schedule 29, after “ money purchase arrangement ” insert “ that is not a collective money purchase arrangement ”.

Annotations

Commencement

I1: Sch. 5 para. 23 in force at 1.8.2022 for the purposes of the amendments made by that paragraph by S.I. 2022/874, reg. 2