24(1)Paragraph 29 of Schedule 36 (transitional provisions: applicable amount in cases of enhanced protection) is amended as follows.U.K.
(2)In sub-paragraph (3), for “(7)” substitute “ (7A) ”.
(3)In the sub-paragraph (6) of paragraph 3 of Schedule 29 substituted by sub-paragraph (3), after “pension” insert “ under a defined benefits arrangement ”.
(4)After the sub-paragraph (7) of that paragraph so substituted insert—
“(7A)Where the member becomes entitled to a scheme pension under a money purchase arrangement, the applicable amount is (subject to sub-paragraph (8))—
where—
VULSR, VUR and LS have the same meaning as in sub-paragraph (1), and
SPPP is the scheme pension purchase price.”