- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
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24U.K.In Schedule 29 after paragraph 17 insert—
17A(1)For the purposes of this Part a lump sum death benefit is a flexi-access drawdown fund lump sum death benefit if—
(a)it is paid in respect of income withdrawal to which the member was entitled to be paid from the member's flexi-access drawdown fund in respect of an arrangement at the date of the member's death, and
(b)it is not a charity lump sum death benefit.
(2)A lump sum death benefit is also a flexi-access drawdown fund lump sum death benefit if—
(a)it is paid on the death of a dependant of the member,
(b)it is paid in respect of dependants' income withdrawal to which the dependant was at the date of the dependant's death entitled to be paid from the dependant's flexi-access drawdown fund in respect of an arrangement relating to the member, and
(c)it is not a charity lump sum death benefit.
(3)A lump sum death benefit is also a flexi-access drawdown fund lump sum death benefit if—
(a)it is paid on the death of a nominee of the member,
(b)it is paid in respect of nominees' income withdrawal to which the nominee was at the date of the nominee's death entitled to be paid from the nominee's flexi-access drawdown fund in respect of an arrangement relating to the member, and
(c)it is not a charity lump sum death benefit.
(4)A lump sum death benefit is also a flexi-access drawdown fund lump sum death benefit if—
(a)it is paid on the death of a successor of the member,
(b)it is paid in respect of successors' income withdrawal to which the successor was at the date of the successor's death entitled to be paid from the successor's flexi-access drawdown fund in respect of an arrangement relating to the member, and
(c)it is not a charity lump sum death benefit.
(5)But if the amount of a lump sum falling within sub-paragraph (1), (2), (3) or (4) exceeds the permitted maximum, the excess is not a flexi-access drawdown fund lump sum death benefit.
(6)The permitted maximum is the aggregate of—
(a)the amount of the sums, and
(b)the market value of the assets,
representing the member's, dependant's, nominee's or successor's flexi-access drawdown fund in respect of the arrangement immediately before the payment is made.”
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