Finance Act 2004

279Other definitionsU.K.

(1)In this Part—

• [F1“abatement”, in relation to a scheme pension [F2to which a person has become entitled] under a public service pension scheme, means the reduction of the pension (including its reduction to nil) in accordance with the rules of the pension scheme by reason of [F3the person's employment] in public service,]

• “the Board of Inland Revenue” means the Commissioners of Inland Revenue,

• [F4“consumer prices index” means—

  (a)

  the general index for consumer prices published by the Statistics Board, or

  (b)

  if that index is not published for a relevant month, any substituted index or index figures published by the Statistics Board,]

• F5...

• “employee” and “employer” have the same meaning as in the employment income Parts of ITEPA 2003 (see sections 4 and 5 of that Act) but include (respectively) a former employee and a former employer (and “employment” is to be read accordingly),

• “the Inland Revenue” means any officer of the Board of Inland Revenue,

• [F6“normal minimum pension age” means—

  (a)

  in relation to, and to a member of, a pension scheme that is not a uniformed services pension scheme—

  (i)

  before 6 April 2010, 50,

  (ii)

  on and after that date but before 6 April 2028, 55, and

  (iii)

  on and after 6 April 2028, 57, and

  (b)

  in relation to, and to a member of, a uniformed services pension scheme—

  (i)

  before 6 April 2010, 50, and

  (ii)

  on and after that date, 55,]

• “pension credit” and “pension debit” have the same meaning as in Chapter 1 of Part 4 of WRPA (see section 46(1) of that Act) or Chapter 1 of Part 5 of WRP(NI)O 1999 (see Article 43(1) of that Order), [F7and]

• “pension sharing order or provision” means any order or provision mentioned in section 28(1) of WRPA 1999 or Article 25(1) of WRP(NI)O 1999,

• [F4“pensionable age” has the meaning given by the rules in paragraph 1 of Schedule 4 to the Pensions Act 1995 or paragraph 1 of Schedule 2 to the Pensions (Northern Ireland) Order 1995,]

• [F8“Scottish basic rate limit” means a rate limit set by the Scottish Parliament under section 80C(2A) of the Scotland Act 1998 for the purposes of determining the extent to which a Scottish taxpayer’s income is charged at the Scottish basic rate where a Scottish rate resolution under that Act has set more than one rate for the tax year.]

• F9...

[F10(1A)In this Part, so far as it forms part of the Corporation Tax Acts, expressions which are defined for the purposes of the Income Tax Acts are to be given the same meaning as they have in the Income Tax Acts.]

[F11(1B)In this Part “Master Trust scheme” means a pension scheme—

(a)that is a Master Trust scheme within the meaning of the Pension Schemes Act 2017 (see sections 1 and 2 of that Act) or corresponding provision in force in Northern Ireland, and

(b)whose operation would be unlawful under Part 1 of that Act (Master Trusts), or corresponding provision in force in Northern Ireland, were the scheme not authorised under that Part or that corresponding provision.

(1C)For the purposes of determining whether the condition in subsection (1B)(b) is met, the following are to be ignored—

(a)any regulations under section 40 of the Pension Schemes Act 2017 (regulations modifying application of Part 1 of that Act);

(b)any provision in force in Northern Ireland corresponding to regulations that could be made under that section.

(1D)For the purposes of this Part a Master Trust scheme is “unauthorised” if—

(a)it is not authorised under Part 1 of the Pension Schemes Act 2017 or corresponding provision in force in Northern Ireland, and

(b)its operation would be unlawful under that Part or that corresponding provision without such authorisation.

(1E)Section 1169 of the Companies Act 2006 (dormant companies) applies for the purposes of this Part.]

[F12(1F)For the purposes of this Part a “CMP-derived drawdown pension” means a drawdown pension (within the meaning given by paragraph 4 of Schedule 28) where—

(a)the sums or assets constituting the fund from which the pension is payable were transferred from another pension scheme, and

(b)before the transfer, those sums or assets were held for the purposes of paying CMP periodic income.

(1G)For the purposes of this Part “CMP periodic income” means income payable by virtue of section 36(7)(b) or 87(7)(b) of the Pension Schemes Act 2021 (periodic income paid under collective money purchase arrangement while pursuing continuity option 1).]

(2)In this Part references to payments made, or benefits provided, by a pension scheme are to payments made or benefits provided from sums or assets held for the purposes of the pension scheme.

(3)For the purposes of this Part the sums and assets held for the purposes of an arrangement under a pension scheme are so much of the sums and assets held for the purposes of the pension scheme under which the arrangement is made as are properly attributable, in accordance with the provisions of the pension scheme and any just and reasonable apportionment, to the arrangement.

[F13(4)In this section “uniformed services pension scheme” means a pension scheme that—

(a)is established by or under an enactment or Royal Warrant for the benefit of persons described in subsection (5) (whether or not other persons may be members of such a scheme), or

(b)is established solely for the receipt of additional voluntary contributions from members of a scheme falling within paragraph (a),

subject to any regulations made under subsection (6).

(5)Those persons are persons who are or were—

(a)members of the naval, military or air forces of the Crown (including members of any reserve force);

(b)members of a police force other than the Civil Nuclear Constabulary;

(c)firefighters.

(6)The Treasury may by regulations —

(a)amend subsection (5) by adding to, varying or omitting descriptions of persons;

(b)provide for a pension scheme not falling within subsection (4)(a) or (b) that is specified, or is of a specified description, to be treated as a uniformed services pension scheme;

(c)provide for a pension scheme falling within subsection (4)(a) or (b) that is specified, or is of a specified description, to be treated as not being a uniformed services pension scheme.

“Specified” means specified in the regulations.

(7)Regulations under subsection (6) may make transitional provision and savings.]