- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
61(1)The Fund trustees may pay a lump sum (a “partner’s trivial lump sum”) to an individual who is entitled to a partner’s pension if the following conditions are met—
Condition 1 | The individual applies to the Fund trustees for payment of a partner’s trivial lump sum instead of a partner’s pension. |
Condition 2 | No payment relating to the deceased has been made to the individual by way of— (a) a partner’s pension, or (b) a death in service lump sum. |
Condition 3 | The individual is not entitled to receive pension payments under rule 69. |
Condition 4 | The Fund trustees are satisfied that, if paid, the partner’s trivial lump sum would be a “trivial commutation lump sum death benefit” for the purposes of Part 2 of Schedule 29 to the Finance Act 2004 (c. 12). |
(2)The amount of a partner’s trivial lump sum is to be an amount equal to the value of the individual’s scheme benefits (as determined by the Fund trustees).
(3)Such a determination must be—
(a)certified by the scheme actuary, or
(b)made in accordance with guidance or tables prepared by the scheme actuary.
(4)Payment of a partner’s trivial lump sum extinguishes all the individual’s rights to receive scheme benefits in respect of the deceased.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: