- allowed decreases
means decreases from time to time allowed by regulations under sub-paragraph (1)(e);
- authorised payment
means a payment specified in subsection (1), and • “prescribed” means prescribed in regulations under subsection (3).”
- beneficiary
means dependant, nominee or successor. 3 Subsection (1) is subject to the following provisions of this section. 4 Section 579A does apply to dependants' income withdrawal paid on or after 6 April 2015 to a person from the person's dependant's drawdown pension fund in respect of a money purchase arrangement under a registered pension scheme (“the drawdown fund”) if before 6 April 2015— a any payment of dependants' income withdrawal was made from— i the drawdown fund, or ii any fund represented (to any extent) by the drawdown fund, or b any payment was made of a dependants' short-term annuity purchased using sums or assets out of— i the drawdown fund, or ii any fund represented (
- flexible annuity contract
means a contract for a lifetime annuity where— a the annuity is within paragraph 3(1A) of Schedule 28, and b the terms of the contract are such that there will or could be decreases in the amount of the annuity other than decreases from time to time allowed by regulations under paragraph 3(1)(d) of Schedule 28 (and any such regulations are to be treated as having effect for this purpose). 9 If— a the individual is entitled to payment of a scheme pension under a money purchase arrangement under a registered pension scheme, b the individual became entitled to the scheme pension— i on or after 6 April 2015, and ii at a time when fewer than 11 other individuals were e
- money purchase arrangement
has the meaning given by section 152 of FA 2004, and • “the relevant two-year period”, in relation to relevant unused uncrystallised funds held for the purposes of a money purchase arrangement relating to a deceased individual under a registered pension scheme, means the period of two years beginning with the earlier of the day on which the scheme administrator of the scheme first knew of the individual's death and the day on which the scheme administrator could first reasonably have been expected to have known of it. 8 For the purposes of this section, sums or assets held after the death of a member of a registered pension scheme for the purposes of a money purc
- Nominee of the member
means an individual— a nominated by the member, or b nominated by the scheme administrator, who is not a dependant of the member, but see sub-paragraph (2). 2 In relation to any particular benefits under an arrangement, no individual nominated by the scheme administrator counts as a nominee of the member at any time when there is— a a dependant of the member, or b an individual, or charity, nominated by the member in relation to the benefits. 3 The reference in sub-paragraph (2)(b) to being nominated in relation to particular benefits under an arrangement includes— a a reference to being nominated in relation to the scheme, b a reference to being nominated in relation
- non-cash-balance money purchase arrangement
means a money purchase arrangement other than a cash balance arrangement. 14ZC 1 Paragraph (2) applies if— a in connection with a member of a registered pension scheme (“the transferring scheme”), there is a recognised transfer from the transferring scheme to another registered pension scheme (“the recipient scheme”), and b the scheme administrator of the transferring scheme has reason to believe that the member first flexibly accessed pension rights before the transfer. 2 The scheme administrator of the transferring scheme must provide the scheme administrator of the recipient scheme with a statement— a stating that the scheme administrator of the transferring scheme has reason to believe that the member first flexibly accessed pension rights before the transfer, and b specifying the date the scheme administrator of the transferring scheme understands to be the date when the member first flexibly accessed pension rights. 3 The requirement under paragraph (2) is to be complied with before— a the end of the 31 days beginning with the date of the transfer, or b if later, the end of the 31 days beginning with the date when the scheme admin
- pension
includes amounts corresponding to income withdrawal or dependants' income withdrawal)—
- prescribed
means prescribed in regulations under subsection (3).”
- referable portion
means portion referable to the member's relevant transfer fund (within the meaning given by paragraph 4 of Schedule 34 to FA 2004). 1F Where the paragraph 15 BCE has occurred, the member's available lifetime allowance is reduced by the aggregate of— a the referable portion of any earlier pension commencement lump sum to which the member became entitled under a relevant non-UK scheme since the paragraph 15 BCE occurred, b the referable portion of any earlier uncrystallised funds pension lump sum to which the member became entitled under a relevant non-UK scheme since the paragraph 15 BCE occurred, and c in respect of any pension to which the member has become entitled since the paragraph 15 BCE occurred, the referable portion of the amount which would have crystallised by virtue of the member's becoming entitled to the pension, had the scheme paying it been a registered pension scheme and disregarding paragraph 2 of Schedule 32 to FA 2004;
- relevant hybrid arrangement
means a hybrid arrangement— a relating to the individual under a registered pension scheme of which the individual is a member, b made on or after 14 October 2014 or having become a hybrid arrangement (whether or not for the first time) on or after that day, and c in respect of which the pension input amount is input amount C mentioned in section 237. 2 As respects each relevant hybrid arrangement in the maximising set of relevant hybrid arrangements— a the pension input amount in respect of the arrangement is for the purposes of sections 227B(3)(b) and 227C(1)(b) treated as being not input amount C mentioned in section 237 but, instead, the greater of such of input amounts A and B mentioned in section 237 as are, for the purposes of section 237, relevant input amounts in the case of the arrangement, and b accordingly, the arrangement— i is not to be included among the arrangements mentioned in section 227B(3)(b) whose pension input amounts are totalled under section 227B(3), but ii is to be included among the arrangements mentioned in section 227C(1)(b) whose pension input amounts are totalled under section 227C(1). 3 For the purposes of subsection (2
- relevant non-UK scheme
has the same meaning as in Schedule 34 to FA 2004 (see paragraph 1 of that Schedule).””
- Successor of the member
means an individual— a nominated by a dependant of the member, b nominated by a nominee of the member, c nominated by a successor of the member, or d nominated by the scheme administrator, but see sub-paragraph (2). 2 In relation to any particular benefits under an arrangement relating to a dependant, nominee or successor of the member (“the beneficiary”) in that capacity, no individual nominated by the scheme administrator counts as a successor of the member at any time after the beneficiary's death when there is an individual, or charity, nominated by the beneficiary in relation to the benefits. 3 A reference in sub-paragraph (2) to being nominated in relation to
- the 2006 Regulations
means the Pension Schemes (Information Requirements for Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006 (S.I. 2006/208).
- the 2013 Regulations
means the Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), and • “the 2006 Regulations” means the Pension Schemes (Information Requirements for Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006 (S.I. 2006/208).
- the intervening period
means the period— (a) beginning with the date of the relevant event concerned, and (b) ending with the first day of the relevant 13-week period. 3 The individual must before the end of the relevant 13-week period— a pass on a copy of the statement, or b otherwise give notice— i of receipt of the statement, and ii of the date of the relevant event concerned or (if applicable) of its having occurred more than 2 years before the start of the relevant 13-week period, to the scheme administrator of each other registered pension scheme of which the individual is an accruing member on any day in the intervening period;
- the relevant 13-week period
means the period of 91 days beginning with— (a) the date of receipt if the individual is an accruing member of any registered pension scheme on any day in the period— (i) beginning with the date of the relevant event concerned, and (ii) ending with the date of receipt, or (b) if not, the first day after the date of receipt when the individual is an accruing member of a registered pension scheme, and • “the intervening period” means the period— (a) beginning with the date of the relevant event concerned, and (b) ending with the first day of the relevant 13-week period. 3 The individual must before the end of the relevant 13-week period— a pass on a copy of the statement, or b otherwise give notice— i of receipt of the statement, and ii of the date of the relevant event concerned or (if applicable) of its having occurred more than 2 years before the start of the relevant 13-week period, to the scheme administrator of each other registered pension scheme of which the individual is an accruing member on any day in the intervening period;