Schedules
Schedule 9Pensions
Part 1Abolition of lifetime allowance charge
4
1
Section 232 (annual allowance charge: cash balance arrangements: adjustments of closing value) is amended as follows.
2
In subsection (8A)(c)—
a
omit “or, but for paragraph 15A of Schedule 32, would occur”;
b
for “lifetime allowance excess lump sum” substitute “pension commencement excess lump sum”
.
3
In subsection (8D)—
a
in paragraph (a) omit “or benefit crystallisation event 5, 5A or 5B occurs in relation to the individual and the pension scheme”;
b
in paragraph (b) omit “or the benefit crystallisation event occurs”.
4
After subsection (8D) insert—
8E
Schedule 32 contains provision about the meaning of references in this section to benefit crystallisation events.