RPSM03105540 - Technical Pages: Protecting pension rights from tax charges: Lump sums: Scheme specific protection: Valuation - more than 1 arrangement benefits within limits
Valuing lump sum benefits exceeding 25%: more than one arrangement or pension scheme and benefits within HMRC limits
Where the individual has more than one arrangement under a sole pension scheme, or more than one pension scheme in respect of the employment, and neither the value of the lump sum rights nor the value of the pension rights exceeded the value of the HMRC limit for the employment on 5 April 2006, VULSR and VUR are as follows.
VULSR
| [Paras 32(1 - 2) & 25(5) Sch 36] |
VULSR is the value of the lump sum rights determined under paragraph 25(5) Schedule 36 Finance Act 2004 for the arrangement(s) under each scheme. RPSM03105070 explains what this value is.
VUR
| [Paras 33(1 - 2) & 8(5) Sch 36] |
VUR is the value of the pension rights determined under paragraph 8 Schedule 36 Finance Act 2004 for the arrangement(s) under each scheme. RPSM03101050 to RPSM03101100 explain what this value is depending on the types of arrangement involved.
| Glossary (RPSM20000000) |
