SCHEDULE 28Inheritance of tax-relieved pension savings
Amendments of Part 4 of FA 2004
3
(1)
Section 172A (surrender) is amended as follows.
(2)
“(aa)
any rights to payments under a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme,”.
(3)
In subsection (3)(a), for “relating to” substitute “
in respect of
”
.
(4)
“(ca)
a surrender of (or agreement to surrender) rights to payments under an annuity in any case covered by regulations under paragraph 3(2B) or 17(3) of Schedule 28;”.
(5)
“(9A)
References in this section to a benefit to which the member or a person has an entitlement under the pension scheme includes rights to payments under—
(a)
a scheme pension or dependants' scheme pension provided by the scheme administrator or as a result of the application of sums or assets held for the purposes of the pension scheme, or
(b)
a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme.”