{
  "url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006/regulation-25",
  "json_url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006/regulation-25.json",
  "legislation": "uksi/2006/920",
  "legislation_title": "The Parliamentary Pensions (Amendment) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/parliamentary-pensions-amendment-regulations-2006",
  "path": "regulation/25",
  "kind": "regulation",
  "number": "25",
  "heading": "The lifetime allowance charge",
  "text": "For regulation 14 of the AVC Regulations (taxation) substitute—\n“Reduction of benefits where lifetime allowance charge payable\n14 (1) This regulation applies if—\n(a) an event that is a benefit crystallisation event listed in the table in section 216(1) of the Finance Act 2004 (“the table”) occurs in relation to a contributor or former contributor, and\n(b) the contributor or former contributor and the Trustees are jointly and severally liable to the charge in respect of the event.\n(2) Where this regulation applies—\n(a) the Trustees must pay the tax payable on the event,\n(b) if the event is benefit crystallisation event 8 in the table (transfer to qualifying recognised overseas pension scheme), the amount or value of the sums or assets transferred must be reduced, and\n(c) in the case of any other event, the total realisable value of the investments made by the Trustees with the contributions made by the contributor and any transfer values accepted under regulation 5(4) must be reduced.\n(3) The amount or value of the reduction must be such that in the opinion of the Government Actuary it fully reflects the amount of the tax so paid.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/920/regulation/25",
    "retrieved_at": "2026-10-29T04:33:07.580715+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."
}