The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024
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Change 1
29 The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc.) Regulations (Northern Ireland) 2011
In the Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc.) Regulations (Northern Ireland) 2011, in regulation 26 (circumstances in which the portion of compensation to be commuted may exceed 25%)— (a) 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)”; (b) in paragraph (5), for “1% of the standard lifetime allowance on the nominated date” substitute “the amount specified in paragraph 7(4) of Schedule 29 to the Finance Act (trivial commutation lump sum: commutation limit)”; (c) in paragraph (8) omit the entry for “standard lifetime allowance”.
29 The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc.) Regulations (Northern Ireland) 2011
In the Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc.) Regulations (Northern Ireland) 2011, in regulation 26 (circumstances in which the portion of compensation to be commuted may exceed 25%)— (a) 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)”; (b) in paragraph (5), for “1% of the standard lifetime allowance on the nominated date” substitute “the amount specified in paragraph 7(4) of Schedule 29 to the Finance Act (trivial commutation lump sum: commutation limit)”; (c) in paragraph (8) omit the entry for “standard lifetime allowance”.
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