SCHEDULES

SCHEDULE 4Pension flexibility: annuities etc

PART 1Death benefits for nominees, successors and dependants

5Dependants’ and nominees’ annuities: testing against deceased member’s lifetime allowance

1

Section 217 (persons liable to lifetime allowance charge) is amended as follows.

2

In subsection (2A) (cases where dependant or nominee liable) after “event 5C,” insert “or by reason of a person becoming entitled to an annuity as mentioned in the description of benefit crystallisation event 5D,”.

3

In subsection (4A) (events 5C and 7 are “relevant post-death” events) after “benefit crystallisation event 5C” insert “, 5D”.