C1C3C4C5C7C8C9C10C11C12C13Part 4Pension schemes etc

Annotations:
Modifications etc. (not altering text)
C9

Pt. 4 modified (1.7.2008) (N.I.) (with effect in accordance with reg. 1 of the amending Rule) by The Health and Social Care (Pension Scheme) Regulations (Northern Ireland) 2008 (S.R. 2008/256), regs. 1, 124(1) (with regs. 134, 258)

C11

Pt. 4 applied (21.7.2009) by Finance Act 2009 (c. 10), Sch. 35 para. 18

C12

Pt. 4 modified (19.7.2011) by Finance Act 2011 (c. 11), Sch. 18 para. 14(3)

C13

Pt. 4 applied (with modifications) (with application in accordance with Sch. 22 para. 1 of the amending Act) by Finance Act 2013 (c. 29), Sch. 22 para. 1(2)

C12Chapter 3Payments by registered pension schemes

Authorised member payments

I1C6168Lump sum death benefit rule

C21

This is the rule relating to the payment of lump sum death benefits by a registered pension scheme in respect of a member of the pension scheme (“the lump sum death benefit rule”).

Lump sum death benefit rule

No lump sum death benefit may be paid other than—

a

a defined benefits lump sum death benefit,

b

a pension protection lump sum death benefit,

c

an uncrystallised funds lump sum death benefit,

d

an annuity protection lump sum death benefit,

F2e

a drawdown pension fund lump sum death benefit,

f

a charity lump sum death benefit,

F1g

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

h

a trivial commutation lump sum death benefit, or

i

a winding-up lump sum death benefit.

2

In this Part “lump sum death benefit” means a lump sum payable on the death of the member.

3

Part 2 of Schedule 29 gives the meaning of expressions used in the lump sum death benefit rule.

4

Schedule 36 contains (in Part 3) transitional provision about lump sum death benefits.