{
  "url": "https://openlegislation.uk/finance-act-2024/schedule-9/paragraph-132",
  "json_url": "https://openlegislation.uk/finance-act-2024/schedule-9/paragraph-132.json",
  "legislation": "ukpga/2024/3",
  "legislation_title": "Finance Act 2024",
  "legislation_url": "https://openlegislation.uk/finance-act-2024",
  "path": "schedule/9/paragraph/132",
  "kind": "paragraph",
  "number": "132",
  "heading": "Modifications of scheme rules",
  "text": "(1) A rule of a registered pension scheme relating to a member’s entitlement to , or to the payment of, a lifetime allowance excess lump sum has effect, in relation to entitlements arising on or after 6 April 2024, and so far as possible, as a rule relating to the member’s entitlement to , or to the payment of, a pension commencement excess lump sum.\n(2) The amendments ... made by or under this Schedule , and the amendments made by section 14, do not affect the interpretation of any relevant rule of a registered pension scheme.\n(3) For the purposes of sub-paragraph (2), a rule of a registered pension scheme is “relevant” if the rule imposes a limit on the amount of a benefit payable under the scheme to, or in respect of, a member by reference to the member’s lifetime allowance, the standard lifetime allowance or the lifetime allowance charge.\n(4) In this paragraph “member”, “lifetime allowance”, “standard lifetime allowance” and “lifetime allowance charge” have the same meaning as in Part 4 of FA 2004 as that Part had effect immediately before 6 April 2024.\n(5) This paragraph ceases to have effect at the end of the tax year 2028-29.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 9 para. 132 renumbered as Sch. 9 para. 132(1) (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 4(23)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 9 para. 132(1) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 4(23)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 9 para. 132(2)-(5) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 4(23)(c)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 9 para. 132(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 17(11)(a)(i)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Sch. 9 para. 132(2) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 17(11)(a)(ii)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Word in Sch. 9 para. 132(4) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 17(11)(b)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Sch. 9 para. 132 substituted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 4(22)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2024/3/schedule/9/paragraph/132",
    "retrieved_at": "2026-10-29T08:48:28.960167+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."
}