SCHEDULES

SCHEDULE 4Pensions: lifetime allowance: transitional provision

PART 1“Fixed protection 2016”

The protection

1

1

Sub-paragraph (2) applies at any particular time on or after 6 April 2016 in the case of an individual if—

a

each of the conditions specified in paragraph 2 is met,

b

there is no protection-cessation event (see paragraph 3) in the period beginning with 6 April 2016 and ending with the particular time,

c

paragraph 1(2) of Schedule 6 to FA 2014 (“individual protection 2014”) does not apply in the individual's case at the particular time, and

d

at the particular time or any later time, the individual has a reference number (see Part 3 of this Schedule) for the purposes of sub-paragraph (2).

2

Part 4 of FA 2004 has effect in relation to the individual as if the standard lifetime allowance were the greater of the standard lifetime allowance and £1,250,000.