•which is paid on or after 6 April 2015 in respect of a money purchase or cash balance arrangement (see ¶375-750 and ¶375-800) and at a time when the member has reached the normal minimum pension age (55) (or satisfies the ill-health condition; see ¶392-000) and still has some part of his lifetime allowance available. HMRC have confirmed (in Pension Schemes Newsletter 78) that the date of payment is a matter of fact, being the date when the amount is actually paid. (But where the sum is paid to the member under the age of 75 and exceeds the available lifetime allowance, the excess does not qualify as an uncrystallised funds pension lump sum);
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.