SCHEDULES

SCHEDULE 16Benefits under pension schemes

Part 1Changes to benefits available under pension schemes etc

Lump sum death benefits to be payable to persons aged 75 or over

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(1)

Paragraph 14 (pension protection lump sum death benefit) is amended as follows.

(2)

In sub-paragraph (1), omit paragraph (a).

(3)

In sub-paragraph (3), for the definition of “AC” substitute—

  • “AC is—

    1. (a)

      in a case where the member became entitled to the pension before reaching the age of 75, the amount crystallised by reason of the member becoming entitled to the pension, and

    2. (b)

      in a case where the member became entitled to the pension after having reached that age, the amount that would have been so crystallised but for paragraph 2 of Schedule 32,”.