SCHEDULES

SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Part 2Pension death benefit rules

Money purchase arrangements

17Dependants' annuity

1

An annuity payable to a dependant is a dependants' annuity if—

a

it is payable by an insurance company,

b

the member or dependant had an opportunity to select the insurance company,

c

it is a level annuity, an increasing annuity or a relevant linked annuity,

d

where the dependant is not the member’s child, it is payable until the dependant’s death or until the earlier of the dependant’s marrying or dying, and

e

where the dependant is the member’s child, it is payable until the earlier of the dependant’s ceasing to be a dependant or dying, or until the earliest of the dependant’s marrying, ceasing to be a dependant or dying.

2

“Level annuity” and “increasing annuity” have the same meaning as in paragraph 3 and “relevant linked annuity” has the meaning that it would have in that paragraph if the reference to the member in sub-paragraph (6) were to the dependant.