SCHEDULES
SCHEDULE 28Registered pension schemes: authorised pensions—supplementary
Part 1Pension rules
Money purchase arrangements
12Alternatively secured pension year and basis amount for alternatively secured pension year
1
“Alternatively secured pension year” means—
a
the period of 12 months beginning with the day on which the member first becomes entitled to alternatively secured pension in respect of the arrangement, and
b
each succeeding period of 12 months.
2
When the member dies, the current alternatively secured pension year is the last alternatively secured pension year and ends immediately before the member’s death.
3
But if by virtue of pension rule 2 alternatively secured income is to be paid to a person after the member’s death, sub-paragraph (4) applies instead of sub-paragraph (2).
4
The last alternatively secured pension year is the earlier of—
a
the tenth alternatively secured pension year, and
b
the last alternatively secured pension year in which, under the arrangement, alternatively secured pension is to be paid.