11(1)In Part 4 of FA 2004, section 167 (pension death benefit rules) is amended as follows.U.K.
(2)In subsection (1)—
(a)in pension death benefit rule 3—
(i)for “If a dependant has not reached the age of 75, no payment of pension death benefit to the dependant” substitute “ No payment of pension death benefit ”,
(ii)for paragraph (c) substitute—
“(c)dependants' drawdown pension,”, and
(iii)for “the dependant” substitute “ a dependant ”;
(b)for pension death benefit rule 4 substitute— “ Pension death benefit rule 4 The total amount of dependants' drawdown pension paid to a dependant in each drawdown pension year in respect of a money purchase arrangement must not exceed 100% of the basis amount for the drawdown pension year. But this limit does not apply in relation to an arrangement to which subsection (2A) applies. ”;
(c)omit pension death benefit rules 5 and 6.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 16 para. 11(3) omitted (6.4.2015) by virtue of Taxation of Pensions Act 2014 (c. 30), Sch. 1 para. 32(2)(4)