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Paragraph 5

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where—

(a)

a transfer value is payable to the scheme managers of a personal pension scheme, and

(b)

a right to a part cash equivalent was acquired,

the transfer value is to be calculated on the cash equivalent basis but as if the person’s pensionable employment had ended with 5th April 1988.