Yes Boss, I noticed that. This is a change from the AE Act which indicate that the temporary position would be that the full lump sum payment would be a TFLS*. I think they thought it through and realised that it would be highly controversial to introduce the 25% factor at a later date.
It also appears from the Finance Act that death benefits will be subject to PAYE,
But the real and immediate issue is that it will be nonsensical for 40% taxpayers to stay in AE as if their employer set up a conventional scheme the would get twice the contribution tax subsidy compared to AE with no difference on retirement.
*Note that the TFLS is tax free up to €200k, 20% taxed on the next €300k and the balance subject to PAYE.