SCHEDULES
SCHEDULE 28Registered pension schemes: authorised pensions—supplementary
Part 2Pension death benefit rules
Money purchase arrangements
20Dependants' short-term annuity
1
An annuity payable to a dependant is a dependants' short-term annuity if—
a
it is purchased by the application of sums or assets representing the whole or any part of the dependant’s unsecured pension fund in respect of an arrangement,
b
it is payable by an insurance company,
c
the dependant had an opportunity to select the insurance company,
d
it is payable for a term which does not exceed five years and ends before the dependant reaches the age of 75 or dies, and
e
it is either a level annuity, an increasing annuity or a relevant linked annuity.
2
“Level annuity”, “increasing annuity” and “relevant linked annuity” have the same meaning as in paragraph 17.