{
  "url": "https://openlegislation.uk/taxation-of-pension-schemes-transitional-provisions-order-2006/article-23",
  "json_url": "https://openlegislation.uk/taxation-of-pension-schemes-transitional-provisions-order-2006/article-23.json",
  "legislation": "uksi/2006/572",
  "legislation_title": "The Taxation of Pension Schemes (Transitional Provisions) Order 2006",
  "legislation_url": "https://openlegislation.uk/taxation-of-pension-schemes-transitional-provisions-order-2006",
  "path": "article/23",
  "kind": "article",
  "number": "23",
  "heading": "Modification of paragraph 34 of Schedule 36",
  "text": "(1) Paragraph (2) below specifies modifications of paragraph 34 of Schedule 36 (entitlement to lump sums exceeding 25% of uncrystallised rights: definition of “permitted maximum” in relation to a pension commencement lump sum) that apply in the circumstances mentioned in article 21.\n(2) In sub-paragraph (3), for sub-paragraph (1) of the modified paragraph 2 of Schedule 29, substitute—\n“(1) In paragraph 1 “the permitted maximum”, in relation to a lump sum, means—\nA×1.2+B-TV4where—\nA is the value of the member’s uncrystallised lump sum rights under the pension scheme on 5th April 2006, calculated in accordance with paragraph 32 of Schedule 36;\nB is the additional lump sum amount (see sub-paragraphs (2) to (7));\nTV is the value of all sums and assets held for the purposes of, or representing accrued rights under, the pension scheme that have been transferred from it as mentioned in article 21(1)(b) of the Taxation of Pension Schemes (Transitional Provisions) Order 2006.”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Art. 23 substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024 (S.I. 2024/1167), regs. 1(2)(3), 4(4) (with reg. 6)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in art. 23(2) substituted (25.6.2026 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2026 (S.I. 2026/698), regs. 1(2)(6), 14(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/572/article/23",
    "retrieved_at": "2026-10-29T04:35:56.817069+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."
}