Finance Act 2004

[F1Dependant's drawdown pension fund]U.K.

22(1)For the purposes of this Part a [F2dependant's drawdown pension fund] in respect of an arrangement consists of such of the sums and assets held for the purposes of the arrangement—U.K.

[F3(a)as are dependant-designated funds, and

(b)have not been applied towards the provision of a dependants' scheme pension.]

[F4(2)For the purposes of this Part sums or assets held for the purposes of an arrangement are dependant-designated funds if F5...—

(a)[F6they have, at any time before 6 April 2015, been designated] under the arrangement as available for the payment of [F7dependants' drawdown pension] F8...,

[F9(aa)they have, at any time on or after 6 April 2015, been designated under the arrangement as available for the payment of dependants' drawdown pension F8..., 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 167(2A) did not apply to the arrangement immediately before 6 April 2015,] or

(b)[F10they] arise, or (directly or indirectly) derive, from [F11dependant-designated funds under paragraph (a) or (aa) or from sums or assets] which so arise or derive.

(3)If any sums or assets representing a [F12person's] [F13dependant's drawdown pension fund] in respect of an arrangement under the pension scheme would (apart from this sub-paragraph)—

(a)come to be taken to represent another [F13dependant's drawdown pension fund] of his under the pension scheme, or [F14a drawdown pension fund] of his under the pension scheme, or

(b)are applied towards the provision of a scheme pension or a lifetime annuity,

they are to be treated as not doing so.]