SCHEDULES

SCHEDULE 4Pension flexibility: annuities etc

PART 1Death benefits for nominees, successors and dependants

Minor and consequential amendments

10

1

Section 172B (increase of rights of connected person on death) is amended as follows.

2

In subsection (2)(aa) (relevant member includes person who has rights to payments under certain annuities) after “lifetime annuity or dependants' annuity” insert “, or nominees' annuity or successors' annuity,”.

3

In subsection (7A) (section does not apply to certain increases in rights) after “dependants' annuity”, in both places, insert “, nominees' annuity, successors' annuity”.

4

In subsection (7B)(b) (“benefit” in section 172B includes rights to payments under certain annuities) after “lifetime annuity or dependants' annuity” insert “, or nominees' annuity or successors' annuity,”.