Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 16 U.K. Benefits under pension schemes

Part 1 U.K. Changes to benefits available under pension schemes etc

Meaning of “dependants' drawdown pension” U.K.

12 U.K. Part 2 of Schedule 28 to FA 2004 (pension death benefit rules) is amended as follows.

13 (1) In paragraph 18 (meaning of “dependants' unsecured pension”), for ““Dependants' unsecured pension”” substitute ““Dependants' drawdown pension””. U.K.

(2) The heading before paragraph 18 becomes “ Dependants' drawdown pension ”.

14 U.K. In paragraph 20 (dependants' short-term annuity), in sub-paragraph (1)—

(a) in paragraph (a), for “dependant's unsecured pension fund” substitute “ dependant's drawdown pension fund ”;

(b) in paragraph (d), omit the words “reaches the age of 75 or”.

15 U.K. For paragraph 21 (meaning of “dependants' income withdrawal”) substitute—

“21 Dependants' income withdrawal” means an amount (other than an annuity) which the dependant is entitled to be paid from the dependant's drawdown pension fund in respect of an arrangement.”