Scheme pension

BCE 2 occurs when a member becomes entitled to a scheme pension (see ¶392-250). The amount crystallised is the amount of pension to be received in the first 12 months multiplied by 20 (or such higher figure as may be agreed between the scheme administrator and HMRC). No account is to be taken of any reduction in a public service pension for any abatement, nor of any reduction which takes into account the tax payable by the scheme administrator under the lifetime allowance charge (FA 2004, s. 276 and Sch. 32, para. 9).

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