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Article 33 Serious ill-health lump sums, pension protection lump sum death benefits and annuity protection lump sum death benefitsI1

United Kingdom

(1)

In the case of an individual who meets the conditions set out in paragraph (2), paragraphs (3), (4) and (5) apply.

(2)

The conditions are as follows.

  • Condition A

    The individual is a member of a scheme which falls within sub-paragraphs 1(1)(a) to (g) of Schedule 36.

  • Condition B

    The individual has an actual (rather than a prospective) right to the payment of one or more relevant existing pensions under that scheme on 6th April 2006.

C1(3)

In paragraph 4(2) of Schedule 29 (serious ill-health lump sum) for the words F1“the member has not previously become entitled to any pension or lump sum” substitute—

“the member has a prospective (rather than an actual) right to the payment of one or more relevant existing pensions.”.

F2(4)

In paragraph 14(3) of Schedule 29 (pension protection lump sum death benefit)—

(a)

in the formula, for “AC” substitute “PCPR”;

(b)

for the definition of AC substitute—

“PCPR is the value of the individual’s pre-commencement pension rights as defined in paragraph 20(3) to (5) of Schedule 36.”.

(5)

In paragraph 16(3) of Schedule 29 (annuity protection lump sum death benefit)—

(a)

in the formula, for “AC” substitute “PCPR”;

(b)

for the definition AC substitute—

“PCPR is the value of the individual’s pre-commencement pension rights as defined in paragraph 20(3) to (5) of Schedule 36.”.

(c)

in the definition of “AP”, for “the member becoming entitled to the pension or annuity” substitute “6th April 2006”.

Annotations

Textual amendments

F1

Words in art. 33(3) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 25(21)(a)

F2

Art. 33(4)(5) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 25(21)(b)

Modifications

C1

Art. 33(3) applied (with modifications) (coming into force in accordance with reg. 1(1) (see S.I. 2012/687, S.I. 2012/688 and S.I. 2012/966)) by The Postal Services Act 2011 (Taxation) Regulations 2012 (S.I. 2012/764), regs. 1(1), 15(3)(4)

Commencement

I1

Art. 33 in force at 6.4.2006, see art. 1(1)