The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024
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Change 1
20 The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005
(1) The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005 are amended as follows. (2) In regulation 1 (citation, commencement and interpretation), in paragraph (2) omit the entry for “standard lifetime allowance”. (3) In regulation 18 (circumstances in which the portion of compensation to be commuted may exceed 25 per cent) in paragraph (2)(c), for “standard lifetime allowance” substitute “lump sum and death benefit allowance (see section 637R of the Income Tax (Earnings and Pensions) Act 2003)”.
20 The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005
(1) The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005 are amended as follows. (2) In regulation 1 (citation, commencement and interpretation), in paragraph (2) omit the entry for “standard lifetime allowance”. (3) In regulation 18 (circumstances in which the portion of compensation to be commuted may exceed 25 per cent) in paragraph (2)(c), for “standard lifetime allowance” substitute “lump sum and death benefit allowance (see section 637R of the Income Tax (Earnings and Pensions) Act 2003)”.
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