PART V MISCELLANEOUS RELIEFS

CHAPTER V MISCELLANEOUS

Pension schemes, etc

C1151 Treatment of pension rights, etc.

1

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1A

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

F5An interest in or under a F2registered pension scheme F4, a qualifying non-UK pension scheme or a section 615(3) scheme which comes to an end on the death of the person entitled to it shall be left out of account in determining for the purposes of this Act the value of his estate immediately before his death, if the interest—

a

is, or is a right to, a pension or annuity, and

b

is not an interest resulting (whether by virtue of the instrument establishing the F3scheme or otherwise) from the application of any benefit provided under the F3scheme otherwise than by way of a pension or annuity.

3

Sections 49 to 53 above shall not apply in relation to an interest satisfying the conditions of paragraphs (a) and (b) of subsection (2) above.

4

In relation to an interest in or under a F2registered pension scheme F4, a qualifying non-UK pension scheme or a section 615(3) scheme, section 5(2) above shall apply as if the words “other than settled property” were omitted (in both places).

5

Where a benefit has become payable under a F2registered pension scheme F4, a qualifying non-UK pension scheme or a section 615(3) scheme, and the benefit becomes comprised in a settlement made by a person other than the person entitled to the benefit, the settlement shall for the purposes of this Act be treated as made by the person so entitled.