Paragraph 11

United Kingdom

(1)

In Part 4 of FA 2004, section 167 (pension death benefit rules) is amended as follows.

(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)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Sch. 16 para. 11(3) omitted (6.4.2015) by virtue of Taxation of Pensions Act 2014 (c. 30), Sch. 1 para. 32(2)(4)