Paragraph 71

(1)

In paragraph 7(1) of Schedule 29 to FA 2004 (meaning of “trivial commutation lump sum”)—

(a)

after paragraph (a) insert—

“(aa)
it is paid in respect of a defined benefits arrangement,”,

(b)

in paragraph (d) (entitlement to benefits must be extinguished) for “the member's entitlement to benefits” substitute “ any entitlement to defined benefits that the member has ”, and

(c)

in paragraph (e) (member must have reached 60) for “the age of 60” substitute “ normal minimum pension age (or the ill-health condition is met) ”.

(2)

The amendments made by sub-paragraph (1) have effect for commutation periods beginning on or after 6 April 2015 and do so irrespective of whether the nominated date is before, on or after 6 April 2015.