Q&As

A pilot trust has been established to receive the death benefits from a retirement annuity contract (RAC). If the RAC funds are subsequently transferred to a self-invested pension plan (SIPP), could the pilot trust receive death benefits payable under the SIPP?

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Published on LexisPSL on 02/04/2020

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A pilot trust has been established to receive the death benefits from a retirement annuity contract (RAC). If the RAC funds are subsequently transferred to a self-invested pension plan (SIPP), could the pilot trust receive death benefits payable under the SIPP?

We have assumed that:

‘…the member of the RAC has provided a written nomination to the trustees of the retirement annuity contract, requesting (but without imposing any legal obligation) that the trustees distribute the death benefits to the trustees of the pilot trust.

both the RAC and the SIPP are subject to the registered pension scheme regime established under Chapter 2 of Part 4 of the Finance Act 2004

this response does not address any inco

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