The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024
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Change 1
6 Treatment of trivial commutation lump sums paid during pre-commencement period
(1) This regulation applies where— (a) during the pre-commencement period, a member of a registered pension scheme becomes entitled to, and is paid, a lump sum under the scheme, and (b) disregarding the amendments made by these Regulations, the lump sum would be a trivial commutation lump sum. (2) For the purposes of determining whether the lump sum is a trivial commutation lump sum, the amendments made by these Regulations are to be disregarded (and accordingly the lump sum is to be treated as a trivial commutation lump sum). (3) In this regulation “the pre-commencement period” means the period beginning with 6th April 2024 and ending with the day before the day on which these Regulations come into force.
6 Treatment of trivial commutation lump sums paid during pre-commencement period
(1) This regulation applies where— (a) during the pre-commencement period, a member of a registered pension scheme becomes entitled to, and is paid, a lump sum under the scheme, and (b) disregarding the amendments made by these Regulations, the lump sum would be a trivial commutation lump sum. (2) For the purposes of determining whether the lump sum is a trivial commutation lump sum, the amendments made by these Regulations are to be disregarded (and accordingly the lump sum is to be treated as a trivial commutation lump sum). (3) In this regulation “the pre-commencement period” means the period beginning with 6th April 2024 and ending with the day before the day on which these Regulations come into force.
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