SCHEDULE 29 Further Provision About Pension Schemes

SCHEDULE 29 Further Provision About Pension Schemes

Section 92

Authorised member payments

1

(1)     Part 4 of FA 2004 (pension schemes etc) is amended as follows.

(2)     In section 164 (authorised member payments)—

(a)     the existing provision becomes subsection (1), and

(b)     after that subsection insert—

“(2)     Regulations under subsection (1)(f) may—

(a)     provide that for the purposes of Part 9 of ITEPA 2003 all or part of a prescribed payment is to be treated as pension under a registered pension scheme, or as a lump sum of a prescribed description,

(b)     provide that all or part of a prescribed payment is subject to the short service refund lump sum charge or the special lump sum death benefits charge,

(c)     provide that a prescribed event in relation to a prescribed payment is to be treated for the purposes of the lifetime allowance charge as a benefit crystallisation event, and make provision as to the amount crystallised by that event,

(d)     include provision having effect in relation to times before the regulations are made if that provision does not increase any person's liability to tax,

and “prescribed†means prescribed in regulations under subsection (1)(f).â€

(3)     In the

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