Regulation 5 Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996

in paragraph (1), for “either paragraph (1A)” substitute “paragraph (1A), (1AA)”, and

after paragraph (1A), insert—

“(1AA)

This paragraph is satisfied if the lump sum payment is—

(a)

made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004 (meaning of “pension scheme”));

(b)

a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009; and

(c)

made to or in respect of a member.”.