Part 2 Lump Sum Death Benefit Rule
Finance Act 2004 (2004 c 12) | Legislation

Part 2 Lump Sum Death Benefit Rule

Defined benefits arrangements

Defined benefits lump sum death benefit

13

[(1)]     For the purposes of this Part a lump sum death benefit is a defined benefits lump sum death benefit if—

(a)     . . .

(b)     it is paid in respect of a defined benefits arrangement,

(c)     . . . and

(d)     it is not a pension protection lump sum death benefit, [or] trivial commutation lump sum death benefit . . ..

[(2)     . . .]

Pension protection lump sum death benefit

14

(1)     For the purposes of this Part a lump sum death benefit is a pension protection lump sum death benefit if—

(a)     . . .

(b)     it is paid in respect of a defined benefits arrangement,

(c)     it is paid in respect of a scheme pension to which the member was entitled at the date of the member's death, and

(d)     the member has specified that it is to be treated as a pension protection lump sum death benefit (instead of a defined benefits lump sum death benefit).

(2)     But if the amount of a lump sum falling within sub-paragraph (1) exceeds the pension protection limit, the excess is not a pension protection lump sum

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