SCHEDULE 28 Inheritance of Tax-relieved Pension Savings
Finance Act 2008 (2008 c 9) | Legislation

SCHEDULE 28 Inheritance of Tax-relieved Pension Savings

Section 91

Amendments of Part 4 of FA 2004

1

Part 4 of FA 2004 (pensions schemes etc) is amended as follows.

2

(1)     Section 172 (assignment) is amended as follows.

(2)     In subsection (3)—

(a)     in paragraph (a), for “an actual or†substitute “aâ€, and

(b)     in paragraph (b), for “the member†substitute “a member of the pension schemeâ€.

(3)     After subsection (6) insert—

“(6A)     References in this section to a benefit to which the member or a person has an entitlement under the pension scheme includes rights to payments under—

(a)     a scheme pension or dependants' scheme pension provided by the scheme administrator or as a result of the application of sums or assets held for the purposes of the pension scheme, or

(b)     a lifetime annuity or dependants' annuity purchased by the application of sums or assets held for the purposes of the pension scheme.â€

3

(1)     Section 172A (surrender) is amended

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