SCHEDULES

SCHEDULE 28U.K.Registered pension schemes: authorised pensions—supplementary

Modifications etc. (not altering text)

Part 2U.K.Pension death benefit rules

Money purchase arrangementsU.K.

Dependant’s alternatively secured pension fundU.K.

25(1)For the purposes of this Part a dependant’s alternatively secured pension fund in respect of an arrangement consists of such of the sums and assets held for the purposes of the arrangement as—U.K.

(a)meet condition A or B, and

(b)have not been subsequently applied [F1towards the provision of a dependants' scheme pension].

[F2(2)Condition A is that they—

(a)were part of the dependant's unsecured pension fund in respect of the arrangement when the dependant reached the age of 75, or

(b)arise, or (directly or indirectly) derive, from sums or assets within paragraph (a) or which so arise or derive.

(3)Condition B is that they have at any time since the dependant reached the age of 75 been designated as available for the payment of alternatively secured dependants' pension to the dependant or arise, or (directly or indirectly) derive, from sums or assets which have been so designated or which so arise or derive.

(4)If any sums or assets representing a dependant's alternatively secured pension fund in respect of an arrangement under the pension scheme would (apart from this sub-paragraph) come to be taken to represent another dependant's alternatively secured pension fund of his under the pension scheme, or an alternatively secured pension fund of his under the pension scheme, they are to be treated as not doing so.]

Textual Amendments

F1Words in Sch. 28 para. 25(1)(b) substituted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 23(2), 64(1)

F2Sch. 28 para. 25(2)-(4) substituted for Sch. 28 para. 25(2)(3) (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 23(3), 64(1)

Modifications etc. (not altering text)

C2Sch. 28 para. 25 modified (27.7.2010) by Finance (No. 2) Act 2010 (c. 31), Sch. 3 para. 2(1)(2)(d)(iii) (with Sch. 2 para. 2(1))