# Taxation of Pensions Act 2014, Paragraph 38


In paragraph 6 (definition of member's short-term annuity) after sub-paragraph (1) insert—
“(1ZA) For the purposes of this Part, but subject to any provision made under sub-paragraph (1C)(za), an annuity payable to the member is also a short-term annuity if—
(a) it is purchased by the application of sums or assets representing the whole or any part of the member's drawdown pension fund, or of the member's flexi-access drawdown fund, in respect of an arrangement,
(b) it is payable by an insurance company,
(c) the member becomes entitled to it on or after 6 April 2015, and
(d) it is payable for a term which does not exceed five years.”

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Source: https://www.legislation.gov.uk/ukpga/2014/30/schedule/1/paragraph/38 (the official version)
Page: https://openlegislation.uk/taxation-of-pensions-act-2014/schedule-1/paragraph-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.