Commentary

I5.634 IHT implications of registered pension schemes

IHT, trusts and estates

I5.634 IHT implications of registered pension schemes

I5.634 IHT implications of registered pension schemes

A registered pension scheme (a qualifying non-UK scheme or TA 1988, s 615(3) scheme) is not relevant property (I5.302) and is specifically excluded from the definition1. In other words it is not liable to any of the charges under the rules for settlements with no interest in possession.

These rules will, however, apply to a benefit which has become payable under a registered pension scheme, a qualifying non-UK scheme or TA 1988, s 615(3) scheme and then becomes settled.

The person who was entitled to the benefit is deemed to be the settlor even if the settlement is made by some other person or persons (for example the trustees of the fund)2.

Termination when scheme comes to an

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