SCHEDULES

C3SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Annotations:
Modifications etc. (not altering text)
C3

Sch. 28 modified by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 14 (as substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by S.I. 2012/1795, regs. 1(1), 5)

Part 2Pension death benefit rules

Money purchase arrangements

F7Dependant's drawdown pension fund

C122

1

For the purposes of this Part a F3dependant's drawdown 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.

C2F12

For the purposes of this Part sums or assets held for the purposes of an arrangement are dependant-designated funds if F8...—

a

F9they have, at any time before 6 April 2015, been designated under the arrangement as available for the payment of F5dependants' drawdown pensionF14...,

F10aa

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 F14..., 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

F11they arise, or (directly or indirectly) derive, from F12dependant-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 F13person'sF4dependant'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 F4dependant's drawdown pension fund of his under the pension scheme, or F6a 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.