{
  "url": "https://openlegislation.uk/finance-act-2024/schedule-9/paragraph-83",
  "json_url": "https://openlegislation.uk/finance-act-2024/schedule-9/paragraph-83.json",
  "legislation": "ukpga/2024/3",
  "legislation_title": "Finance Act 2024",
  "legislation_url": "https://openlegislation.uk/finance-act-2024",
  "path": "schedule/9/paragraph/83",
  "kind": "paragraph",
  "number": "83",
  "heading": "Amendments of Part 3 of Schedule 36 to FA 2004",
  "text": "(1) Paragraph 28 (pre-commencement benefit rights: no enhanced protection: permitted maximum) is amended as follows.\n(2) In sub-paragraph (1) omit “paragraph 2 of”.\n(3) In sub-paragraph (2), after “paragraph 2” insert “of Schedule 29”.\n(4) For sub-paragraph (3) substitute—\n“(3) Otherwise, for paragraph 2 of Schedule 29 substitute—\n“2 (1) In paragraph 1 “the permitted maximum”, in relation to a lump sum, means an amount equal to—\nA - B where—\nA is the value of the individual’s relevant uncrystallised lump sum rights on 5 April 2006 (calculated in accordance with paragraphs 25 and 26), as adjusted under sub-paragraph (2);\nB is the aggregate of the amounts of each pension commencement lump sum to which the individual has previously become entitled, as adjusted under sub-paragraph (3) (or, if the individual has not previously become entitled to a pension commencement lump sum, is nil).\n(2) The adjustment referred to in the definition of A is the multiplication of the value of the individual’s relevant uncrystallised lump sum rights on 5th April 2006 by 1.2 (being £1,800,000 divided by £1,500,000).\n(3) The adjustment of the amount of a pension commencement lump sum to which the individual has previously become entitled referred to in the definition of B is the multiplication of the amount by—\n£ 1 , 800 , 000 C where C is—\n(a) if the individual became entitled to the lump sum before 6th April 2012, the standard lifetime allowance at that time;\n(b) otherwise, £1,800,000.””",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2024/3/schedule/9/paragraph/83",
    "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."
}