In the context of pensions, an event that before 6 April 2024 triggered a test against the lifetime allowance available to a member of a registered pension scheme. There were 13 separate BCEs. Broadly speaking, a BCE occurred when a member took a pension or lump sum, reached age 75, died or transferred their pension overseas.

With the abolition of the lifetime allowance from the start of the 2024/25 tax year, the BCE tests no longer apply for the most part, though some have been retained for the purpose of determining the closing value of a member's pension input amount in respect of a defined benefit or cash balance arrangement in the context of the annual allowance. BCEs also continue to be relevant in the context of transitional provisions applying to members who used up some or all of their lifetime allowance before 6 April 2024. (Sections 234 and 236, Finance Act 2004 and Part 6, Schedule 9, Finance Act 2024.)