pension protection lump-sum death benefit
- pension protection lump-sum death benefit
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Introduced by the Finance Act 2004, a registered pension scheme may pay a pension protection lump sum death benefit on the death of a member before age 75. The lump sum will be equal to the capital value of the pension at crystallisation, less any instalments already paid.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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