RPSM11104120 - Technical Pages: Lifetime allowance: Valuing benefits on BCEs: Drawdown (before 6 April 2011 unsecured) pension - BCE 5A: Unsecured pension becomes an alternatively secured pension or drawdown pension when member reaches age 75
Where an unsecured pension becomes an alternatively secured pension or member with drawdown pension reaches 75
|[s216(1)][Para 8(2) and 11, Sch 28]|
Prior to 6 April 2011, a lifetime allowance test occurred on reaching age 75, under BCE 5A, (see RPSM11104640) being the time when an unsecured pension fund automatically became an alternatively secured pension fund.
From 6 April 2011, drawdown pension replaces both unsecured pension and alternatively secured pension. Despite this change, a lifetime allowance test will still occur in respect of a drawdown pension fund when the member reaches age 75, under BCE 5A.