# Finance Act 2024, Paragraph 30: Amendments of Part 4 of FA 2004 (pension schemes etc)

Extent: E+W+S+N.I.

(1) In paragraph 7 (trivial commutation lump sum), in sub-paragraph (1)(c), for “lifetime allowance is available” substitute “lump sum allowance is available (see paragraph 12A)”.
(2) In paragraph 8 (trivial commutation lump sum: value of member’s relevant crystallised pension rights on the nominated date), in sub-paragraph (1), for paragraph (b) substitute—
“(b) the amount given by the formula—
( ( A - B ) × 4 ) + C where—
“A” is the member’s lump sum allowance;
“B” is the amount of the member’s lump sum allowance that is available (see paragraph 12A) on the payment of the lump sum in question;
“C” is the amount of any serious ill health lump sum already paid to the member so far as it was not chargeable to income tax.”

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/9/paragraph/30 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-9/paragraph-30
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.