SCHEDULES

SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Part 2Pension death benefit rules

Money purchase arrangements

F1Dependant's drawdown pension fund

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(1)

For the purposes of this Part a F2dependant's drawdown pension fund in respect of an arrangement consists of such of the sums and assets held for the purposes of the arrangement—

F3(a)

as are dependant-designated funds, and

(b)

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

F4(2)

For the purposes of this Part sums or assets held for the purposes of an arrangement are dependant-designated funds if F5...—

(a)

F6they have, at any time before 6 April 2015, been designated under the arrangement as available for the payment of F7dependants' drawdown pension to the dependant,

F8(aa)

they have, at any time on or after 6 April 2015, been designated under the arrangement as available for the payment of dependants' drawdown pension to the dependant, and—

(i)

sums or assets held for the purposes of the arrangement have, at any time before 6 April 2015, been designated under the arrangement as so available, and

(ii)

section 167(2A) did not apply to the arrangement immediately before 6 April 2015, or

(b)

F9they arise, or (directly or indirectly) derive, from F10dependant-designated funds under paragraph (a) or (aa) or from sums or assets which so arise or derive.

(3)

If any sums or assets representing a F11dependant's drawdown 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 F11dependant's drawdown pension fund of his under the pension scheme, or F12a drawdown 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.