Schedules

Schedule 9Pensions

Part 4Transitional protections

91Amendments of Schedule 22 to FA 2013

1

In Schedule 22 to FA 2013 (transitional provision relating to reduction in standard lifetime allowance etc), in Part 1 (“fixed protection 2014”), paragraph 1 is amended as follows.

2

In sub-paragraph (1)(b), for “make provision for a lifetime allowance enhancement factor” substitute “apply on that date”.

3

For sub-paragraph (2) substitute—

2

Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes) has effect in relation to the individual as if—

a

the amount specified in section 637P of that Act (individual’s lump sum allowance) were £375,000, and

b

the amount specified in section 637R of that Act (individual’s lump sum and death benefit allowance) were £1,500,000.