The following Pensions practice note Produced in partnership with Wyn Derbyshire of gunnercooke LLP provides comprehensive and up to date legal information covering:
THIS PRACTICE NOTE RELATES TO DRAWDOWN PENSIONS WHICH COMMENCED BEFORE 6 APRIL 2011
This Practice Note looks at the legal regime applicable to drawdown arrangements under registered pension schemes entered into before 6 April 2011.
For information on the legal regimes applicable to drawdown arrangements on or after 6 April 2011, see Practice Notes:
Drawdown between 6 April 2011 and 5 April 2015
Drawdown from 6 April 2015
Drawdown and death benefits from 6 April 2015
The A-day tax simplification changes, which came into force on 6 April 2006 introduced a new drawdown regime for registered pension schemes which replaced the limited ability to drawdown pensions which existed prior to that date. The A-day changes introduced the concept of the ‘unsecured pension’ and the ‘alternatively secured pension’. The term ‘drawdown pension’ replaced these terms following changes which were made to the drawdown regime on and after 6 April 2011.
For more information on the A-day changes, see Practice Note: The Finance Act 2004, A-day and the pensions tax regime.
An unsecured pension could only be paid from a money purchase arrangement while the member was under the age of 75. A money purchase arrangement could be used to provide a member with an unsecured pension in one of two ways. These were either:
direct from the scheme through income withdrawal, or
indirectly through the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty, whether more promptly or at all. In some
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
This Practice Note looks at CE-File electronic working in the courts under CPR PD 51O, in the context of case management. It provides guidance on how to file a document electronically, deal with rejected electronic filings, issue a claim electronically, file electronic bundles (eBundles) for case
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.