RPSM09103140 - Technical Pages:
Member benefits: An alternatively secured pension: Taxation
Taxation of an alternatively secured pension
| [Para 6, Sch 31][s579A to 579D, Chapter 5A ITEPA
2003] |
Any
alternatively secured pension paid by a
registered pension scheme is taxable as pension
income on the recipient through PAYE.
The taxable pension income for a tax year is the full amount
of the alternatively secured pension actually paid in that tax
year.
The position where the alternatively secured pension limit is
breached in a
pension year is dealt with on
RPSM09103150.
Where the member dies, and the alternatively secured pension
payments continue because of a guarantee, then the recipient of the
continued payments is taxed under PAYE.
