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.