Valid from 06/04/2006
(1)This section applies where—
(a)a dependant of a member of a registered pension scheme has a dependant's alternatively secured pension fund in respect of an arrangement under the pension scheme immediately before his death, and
(b)section 151B above does not apply.
(2)In determining for the purposes of this Act the value of the dependant's estate immediately before his death he shall be treated as if he had been beneficially entitled to property with a value equal to the relevant amount.
(3)The relevant amount is—
(a)the aggregate of the amount of the sums and the value of the assets forming part of the dependant's alternatively secured pension fund immediately before his death, less
(b)so much of sums forming part of the dependant's alternatively secured pension fund (or sums directly or indirectly deriving from sums or assets forming part of that fund) as are paid as a charity lump sum death benefit within the period of six months beginning with the end of the month in which his death occurs.
(4)In this section—
“charity lump sum death benefit” has the meaning given by paragraph 18 of Schedule 29 to the Finance Act 2004;
“dependant” has the meaning given by paragraph 15 of that Schedule 28 to that Act; and
“dependant's alternatively secured pension fund” has the same meaning as in Part 4 of that Act (see paragraph 25 of Schedule 28 to that Act).