SCHEDULEBenefit limits

PART IInterpretation

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1

“Retained benefits” means the total of any pensions payable to the participator, in respect of employment before the participator entered superannuable employment, under—

a

a retirement benefits scheme or under an annuity contract falling within section 431(4)(d) of the Taxes Act (interpretative provisions relating to insurance companies);

b

a retirement annuity contract or trust scheme under Chapter III of Part XIV of the Taxes Act;

c

a personal pension scheme approved under Chapter IV of Part XIV of the Taxes Act;

d

a statutory scheme (as defined in section 612 of the Taxes Act); or

e

an approved scheme.

2

In this paragraph “pension” includes the actuarial equivalent as an annual pension, as determined by the Inland Revenue Pensions Schemes Office, of any lump sum.