RPSM09103000 - Technical Pages: Member benefits: An alternatively secured pension: contents
This guidance only covers members who became entitled to an alternatively secured pension before 6 April 2011. If the member reached age 75 between 22 June 2010 and 5 April 2011 you should also read the guidance in RPSM17100000 onwards.
If the member reached age 75 on or after 6 April 2011 then see the guidance at RPSM09103500.
An alternatively secured pension before 6 April 2011 and transition to drawdown pension
On 6 April 2011 the terms used to describe alternatively secured pensions changed:
- alternatively secured pension became drawdown pension, and
- an alternatively secured pension fund became a drawdown pension fund.
The maximum amount of drawdown pension that may be paid in a pension year is 100 per cent of the ‘basis amount’. The member’s maximum drawdown amount must be reviewed every year whilst the member is 75 or older.
| RPSM09103010 | Payment of an alternatively secured pension after age 75 before 6 April 2011 and transition to drawdown pension |
| RPSM09103020 | An example of how an alternatively secured pension comes into payment at age 75 |
| RPSM09103030 | Limit where entitlement to an alternatively secured pension first arises under an arrangement before 6 April 2011 and transition to drawdown pension |
| RPSM09103040 | An alternatively secured pension year |
| RPSM09103050 | Alternatively secured pension limits generally |
| RPSM09103060 | Review of alternatively secured pension limits |
| RPSM09103070 | Sixty-day window for review of the alternatively secured pension limit |
| RPSM09103080 | Where additional funds are added to the alternatively secured pension fund |
| RPSM09103090 | Purchase of a lifetime annuity contract from an alternatively secured pension fund (or application of such funds to provide a scheme pension) |
| RPSM09103100 | Entitlement to alternatively secured pension arising after age 75 |
| RPSM09103105 | Alternatively secured pension fund arising from a pre 6 April 2006 benefit entitlement |
| RPSM09103108 | Member cannot be traced at age 75 before 6 April 2011 and transition to drawdown pension |
| RPSM09103110 | Alternatively secured pension limit in the year of death |
| RPSM09103120 | Guaranteeing an alternatively secured pension |
| RPSM09103130 | An example of how a guarantee works with an alternatively secured pension |
| RPSM09103140 | Taxation of an alternatively secured pension |
| RPSM09103150 | Where the alternatively secured pension limit is breached |
| RPSM09103160 | Transfer of an alternatively secured pension fund |
| RPSM09103170 | Benefits that can be provided from any remaining alternatively secured pension fund on the death of the member (after age 75) |
