SCHEDULES

C4SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Annotations:
Modifications etc. (not altering text)
C4

Sch. 28 modified by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 14 (as substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by S.I. 2012/1795, regs. 1(1), 5)

Part 1Pension rules

F8Member's drawdown pension fund

Annotations:
Amendments (Textual)
F8

Sch. 28 para. 8 cross-heading substituted (with effect in accordance with Sch. 16 para. 85 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 6(6)

C1C28

1

For the purposes of this Part the F4member's drawdown pension fund in respect of an arrangement consists of such of the sums or assets held for the purposes of the arrangement F3as are member-designated funds.

C3F11A

For the purposes of this Part sums or assets held for the purposes of an arrangement are member-designated funds if F9...—

a

F10they have, at any time before 6 April 2015, been designated under the arrangement as available for the payment of F7drawdown pension,

F11aa

they have, at any time on or after 6 April 2015, been designated under the arrangement as available for the payment of drawdown pension, and—

i

sums or assets held for the purposes of the arrangement have, at any time before 6 April 2015, been designated under the arrangement as so available, and

ii

section 165(3A) did not apply to the arrangement immediately before 6 April 2015, or

b

F13they arise, or (directly or indirectly) derive, from F12member-designated funds under paragraph (a) or (aa) or from sums or assets which so arise or derive,

and have not been applied towards the provision of a scheme pension.

F52

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

F53

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

F24

If any sums or assets representing the member's F6drawdown pension fund in respect of an arrangement under the pension scheme would (apart from this sub-paragraph) come to be taken to represent another unsecured pension fund of his under the pension scheme, or a dependant's F6drawdown pension fund of his under the pension scheme, they are to be treated as not doing so.