BCE 1 | Practical Law
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BCE 1
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BCE 1
Practical Law UK Glossary 0-380-7453
(Approx. 3 pages)
Glossary
BCE 1
A
benefit crystallisation event (BCE)
that triggers a test against the
lifetime allowance
available to a member of a
registered pension scheme
. BCE 1 occurs when a member of a
money purchase scheme
(or a member of a money purchase section of a
defined benefit scheme
) decides to designate some or all of his pension fund as
drawdown pension
. The amount crystallised is the value of the drawdown pension. (
Section 216
, Finance Act 2004.)