SCHEDULES
C1C2SCHEDULE 29Registered pension schemes: authorised lump sums—supplementary
Sch. 29 modified by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), art. 23C (as inserted (1.6.2009) by S.I. 2009/1172, arts. 1, 3; and amended (with effect in accordance with art. 1(3) of the amending S.I.) by S.I. 2011/1782, arts. 1(1), 2(3))
C1C3C4Part 2Lump sum death benefit rule
Sch. 29 Pt. 2 applied (with modifications) (6.4.2006) by The Pension Protection Fund (Tax) Regulations 2006 (S.I. 2006/575), regs. 1, 14
Sch. 29 Pt. 2 modified (6.4.2006) by The Taxation of Pension Schemes (Transitional Provisions) Order 2006 (S.I. 2006/572), arts. 1(1), 6, 8(1)(3)
Defined benefits and money purchase arrangements
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1
For the purposes of this Part a lump sum death benefit is a winding-up lump sum death benefit if—
a
the pension scheme is being wound-up,
b
it is paid to a dependant entitled under the pension scheme to pension death benefit in respect of the member, and
c
it extinguishes the dependant’s entitlement under the pension scheme to pension death benefit and lump sum death benefit in respect of the member.
2
But if the amount of a lump sum falling within sub-paragraph (1) exceeds F2£18,000, the excess is not a winding-up lump sum death benefit.
F13
The Treasury may by order substitute for the amount for the time being specified in sub-paragraph (2) such larger amount as is specified in the order.
Sch. 29 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 15