Regulation 94 Supplement: lump sum death benefitI1

Where a lump sum death benefit is payable in respect of a member under regulation 93(1), an additional amount (a “lump sum supplement”) calculated under paragraph (2) is also payable.

The sum payable is an amount sufficient, after deduction of any applicable income tax and national insurance payable arising as a result of such payment, to result in a net sum equal to the income tax payable on any lump sum payable under regulation 93(1).

The lump sum supplement is payable at the same time as payment of the lump sum mentioned in regulation 93(1).