Section 168 | Lump sum death benefit rule

(1)This is the rule relating to the payment of lump sum death benefits by a registered pension scheme in respect of a member of the pension scheme (“the lump sum death benefit rule”).Lump sum death benefit ruleNo lump sum death benefit may be paid other than—

(a)a defined benefits lump sum death benefit,

(b)a pension protection lump sum death benefit,

(c)an uncrystallised funds lump sum death benefit,

(d)an annuity protection lump sum death benefit,

(e)a drawdown pension fund lump sum death benefit,

(ea)a flexi-access drawdown fund lump sum death benefit,

(f)a charity lump sum death benefit , or

(g)Repealed

(h)a trivial commutation lump sum death benefit, ...

(i)Repealed

(2)In this Part “lump sum death benefit” means a lump sum payable on the death of the member , or a lump sum payable in respect of the member on the subsequent death of a dependant, nominee or successor of the member.

(3)Part 2 of Schedule 29 gives the meaning of expressions used in the lump sum death benefit rule.

(4)Schedule 36 contains (in Part 3) transitional provision about lump sum death benefits.