Income Tax (Earnings and Pensions) Act 2003 section 594

Meaning of "former approved superannuation fund"

Section 594 identifies the superannuation funds that are covered by this chapter of the legislation.

• The section defines what qualifies as a "former approved superannuation fund" for the purposes of this chapter.
• These are superannuation funds that were previously approved by HMRC under older tax legislation (specifically section 608 of ICTA).
• The definition is important because it determines which funds fall within the scope of the tax rules set out in this chapter.
• The section was amended by Finance Act 2004 as part of broader reforms to the pension and superannuation tax regime.