Regulation 82 Adjustment of allocated benefit (members who have reached the age of 75)

(1)

The amount of allocated pension payable to the beneficiary of an allocation election may be adjusted in a manner determined by the scheme manager if—

(a)

the member who made the allocation election dies after reaching the age of 75; and

(b)

on the death of the member, the amount of allocated pension payable to the beneficiary does not qualify as a dependants’ scheme pension under section 167 (pension benefit rules) of FA 2004^f1.

(2)

In this regulation, “allocated pension” has the meaning given in regulation 81(1)(b).

Annotations

Footnotes

f1: Section 167 was amended by the Finance Act 2007 (c. 11) Schedule 20 paragraph 22 and the Finance Act 2011 (c. 11) Schedule 16 paragraph 11. See also Part 2 of Schedule 28 to that Act for the meaning of expressions used in section 167.