Introduction New section 213F Total pension savings amount
20.New section 213F(1) provides that the total pension savings amount is determined by aggregating all pension savings amounts in each arrangement that the individual might have under separate registered pension schemes.
21.New section 213F(2) makes reference to new sections 213G to 213N which define pension savings amounts.
22.New section 213F(3) provides for a negative pension savings amount to be treated as nil.
23.New section 213F(4) provides for the total pension savings amount to be reduced by the amount by which the total pension input amount under section 229 exceeds the annual allowance.
24.New section 213F(5) provides a power to exclude from the total pension savings amount, pension savings amounts from arrangements where the individual is a deferred member for the whole tax year and to modify the high income excess relief charge rules for individuals who are deferred members for part of the tax year through regulations if the individual meets the condition in new section 213F(6).
25.New section 213F(6) defines the condition in new section 213F(5) by reference to an individual being a deferred member of the scheme (or would be, where there is more than one arrangement, if the particular arrangement under consideration were the only arrangement under the scheme).