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Pension Schemes Act 1993
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Changes over time for: Section 28A
Version Superseded: 06/04/2012
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[F128ARequirements for interim arrangementsE+W+S
(1)An interim arrangement must provide for payments to be made to the member, and, where subsection (2) applies, to the member’s [F2widow, widower or surviving civil partner], throughout the interim period, at intervals not exceeding twelve months [F3but the member, widow, widower or surviving civil partner may forbear to receive such payments].
(2)This subsection applies where the member dies during the interim period and is survived by a [F4widow, widower or surviving civil partner] F5... .
(3)The aggregate amount of payments made to a person under an interim arrangement in each successive period of twelve months [F6(“the aggregate payment”) must not be greater than—
(a)the amount specified by pension rule 5 in subsection (1) of section 165 of the Finance Act 2004 (pension rules) for the [F7drawdown pension year] which ends in that period of twelve months [F8(disregarding the second sentence of pension rule 5)], [F9or]
F10(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)the amount specified by pension death benefit rule 4 in subsection (1) of section 167 of the Finance Act 2004 (pension death benefit rules) for the [F11drawdown pension year] which ends in that period of twelve months [F12(disregarding the second sentence of pension death benefit rule 4)], where subsection (2) applies F13...
F14(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This is subject to subsection (3A).]
[F15(3A)The proportion of the aggregate payment which gives effect to a person’s protected rights must not be greater than the proportion of the value of the rights to money purchase benefits under the scheme that is attributable to the protected rights.]
F16(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F16(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ]
Textual Amendments
F1Ss. 28A, 28B inserted (13.3.1996 for specified purposes, 1.4.1996 in so far as not already in force) by Pensions Act 1995 (c. 26), ss. 143, 180(1); S.I. 1996/778, art. 2(2), Sch. Pt. 2
F2Words in s. 28A(1) substituted (26.7.2005 for specified purposes, 5.12.2005 in so far as not already in force) by The Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 (S.I. 2005/2050), art. 1(2)(3), Sch. 1 para. 10
F3Words in s. 28A(1) inserted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 7(4)(a)
F4Words in s. 28A(2) substituted (26.7.2005 for specified purposes, 5.12.2005 in so far as not already in force) by The Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 (S.I. 2005/2050), art. 1(2)(3), Sch. 1 para. 10
F5Words in s. 28A(2) omitted (6.4.2006) by virtue of The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 7(4)(b)
F6Words in s. 28A(3) substituted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 7(4)(c)
F7Words in s. 28A(3)(a) substituted (with effect for the tax year 2011-12 and subsequent tax years) by Finance Act 2011 (c. 11), Sch. 16 para. 58(a)(i) (with Sch. 16 para. 85)
F8Words in s. 28A(3)(a) inserted (with effect for the tax year 2011-12 and subsequent tax years) by Finance Act 2011 (c. 11), Sch. 16 para. 58(a)(ii) (with Sch. 16 para. 85)
F9Word in s. 28A(3) substituted (with effect for the tax year 2011-12 and subsequent tax years) by Finance Act 2011 (c. 11), Sch. 16 para. 58(a)(iii) (with Sch. 16 para. 85)
F10S. 28A(3)(b) omitted (with effect for the tax year 2011-12 and subsequent tax years) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 58(c) (with Sch. 16 para. 85)
F11Words in s. 28A(3)(c) substituted (with effect for the tax year 2011-12 and subsequent tax years) by Finance Act 2011 (c. 11), Sch. 16 para. 58(b)(i) (with Sch. 16 para. 85)
F12Words in s. 28A(3)(c) inserted (with effect for the tax year 2011-12 and subsequent tax years) by Finance Act 2011 (c. 11), Sch. 16 para. 58(b)(ii) (with Sch. 16 para. 85)
F13Words in s. 28A(3)(c) omitted (with effect for the tax year 2011-12 and subsequent tax years) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 58(b)(iii) (with Sch. 16 para. 85)
F14S. 28A(3)(d) omitted (with effect for the tax year 2011-12 and subsequent tax years) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 58(c) (with Sch. 16 para. 85)
F15S. 28A(3A) inserted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 7(4)(d)
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