SCHEDULES

SCHEDULE 16Benefits under pension schemes

Part 1Changes to benefits available under pension schemes etc

Drawdown pension year and basis amount for drawdown pension year

7

(1)

In Part 1 of Schedule 28 to FA 2004, paragraph 9 (unsecured pension year) is amended as follows.

(2)

In sub-paragraph (1)—

(a)

for “ “Unsecured pension year”” substitute “ “Drawdown pension year” ”;

(b)

in paragraph (a), for “unsecured pension” substitute “ drawdown pension ”;

(c)

at the end insert—

“This is subject to paragraph 10B.”

(3)

For sub-paragraph (2) substitute—

“(2)

The drawdown pension year in which the member dies is the last drawdown pension year and ends immediately before the member's death.”

(4)

The heading before paragraph 9 becomes “ Drawdown pension year and basis amount for drawdown pension year ”.