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SCHEDULES

SCHEDULE 28Registered pension schemes: authorised pensions—supplementary

Part 2Pension death benefit rules

Money purchase arrangements

Dependants' annuity

17(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.