RPSM10104120 - Technical Pages:
Death benefits: Pensions: Dependants' scheme pension: From a money
purchase arrangement
Provision of a dependants’ scheme pension under a money
purchase arrangement
| [s167, ‘Pension death benefit rules 3 and
5’] |
A
dependants’ scheme pension can be provided
from a
money purchase arrangement in the same way as a
member’s
scheme pension. The same principles and
considerations outlined in
RPSM09101410 and
RPSM09101440 apply with a
dependants’ scheme pension. These include that
- the member or
dependant must have been given the option of
choosing a
dependants’ annuity instead of a
dependants’ scheme pension,
- a dependants’ annuity differs from a
dependants’ scheme pension secured with an
insurance company; although there are no
lifetime allowance considerations here (see
RPSM09101440), and
- a dependants’ scheme pension can be
provided from the application of
dependants’unsecured pension fund (or
dependants’ alternatively secured pension
fund) (see
RPSM09101410).
