SCHEDULES

SCHEDULE 1Pension flexibility etc

Part 1Drawdown pensions

Further drawdown amendments

21

In paragraph 22(2) of Schedule 28 (meaning of “dependant's drawdown pension fund”: funds designated as available for dependants' drawdown pension)—

a

in the opening words omit “they”,

b

in paragraph (a) for “have been designated at any time” substitute “ they have, at any time before 6 April 2015, been designated ”,

c

before the “or” at the end of paragraph (a) insert—

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 to the dependant, 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,

d

in paragraph (b)—

i

at the beginning insert “ they ”, and

ii

for “sums or assets which have been so designated or” substitute “ dependant-designated funds under paragraph (a) or (aa) or from sums or assets ”.