Article 23D F1

Schedule 36 (pension schemes etc: transitional provisions and savings) is modified as follows.

For paragraph 31(3) (entitlement to lump sums exceeding 25% of uncrystallised rights) substitute—

“(3)

The pension condition is that either—

(F2a)

the individual—

(i)

becomes entitled to all the pensions payable to the individual under arrangements under the pension scheme (to which the individual did not have an actual entitlement on or before 5th April 2006) on the same date, and

(ii)

does not become entitled to more than one pension commencement lump sum in connection with becoming entitled to those pensions; or

(b)

the individual is paid a trivial commutation lump sum within paragraph 7A of Schedule 29.”.

In paragraph 34(3), in the modified paragraph 2 of Schedule 29, in sub-paragraph (2), for the definition of D substitute—

• ““D” is—

  1. (a)

     in a case in which the lump sum is paid in connection with the individual becoming entitled to a trivial commutation lump sum within paragraph 7A of Schedule 29, the amount of the trivial commutation lump sum;

  2. (b)

     otherwise, the relevant capital amount in relation to the relevant pension (see sub-paragraph (6));”.