SCHEDULES

C2SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Annotations:
Modifications etc. (not altering text)

C2Part 2Pension death benefit rules

Money purchase arrangements

Dependant’s unsecured pension fund

C2C122

1

For the purposes of this Part a dependant’s unsecured pension fund in respect of an arrangement consists of such of the sums and assets held for the purposes of the arrangement—

F2a

as are dependant-designated funds, and

b

have not been applied towards the provision of a dependants' scheme pension.

F12

For the purposes of this Part sums or assets held for the purposes of an arrangement are dependant-designated funds if they—

a

have been designated at any time under the arrangement as available for the payment of dependant's unsecured pension to the dependant, or

b

arise, or (directly or indirectly) derive, from sums or assets which have been so designated or which so arise or derive.

3

If any sums or assets representing a dependant's unsecured pension fund in respect of an arrangement under the pension scheme would (apart from this sub-paragraph)—

a

come to be taken to represent another dependant's unsecured pension fund of his under the pension scheme, or an unsecured pension fund of his under the pension scheme, or

b

are applied towards the provision of a scheme pension or a lifetime annuity,

they are to be treated as not doing so.