Section 342B(4)

The maximum amount which the person responsible for an arrangement may be required to pay by an order under section 342A is the lesser of— the amount of the excessive contributions, and the value of the individual’s rights under the arrangement (if the arrangement is an approved pension arrangement) or of his excluded rights under the arrangement (if the arrangement is an unapproved pension arrangement).

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Source: legislation.gov.uk · retrieved 2026-09-04