It’s a bit vague to be fair, as how do they legislate for you waive the lump sum from something that doesn’t exist as yet? Or indeed put a net present value on it. The assumption is that the intent is to remove the ‘loophole’ to waive the right to a lump sum from a current scheme, then later move all or some of that funding into another scheme. Which you haven’t waived the right to a lump sum from and can’t really have as it didn’t exist. By trying to tidy up the ‘loophole’ they’ve already created a lot of angst and confusion in workplaces, I’ve heard opinion that the finance bill definitely doesn’t close any loophole and opinion that if definitely does. It appears on its own it’s not going to give the intended result.which is why I wondered will it be removed from final version of the bill.