Income Tax (Earnings and Pensions) Act 2003 section 646F

Interpretation of sections 646B to 646E

Section 646F provides the definitions of key pension terms used in sections 646B to 646E, by directing readers to the relevant provisions of the Finance Act 2004 where those terms are defined.

• Nineteen pension-related terms used in the exemption provisions of sections 646B to 646E are given defined meanings drawn from the Finance Act 2004.
• The defined terms cover categories of beneficiary (dependant, nominee, and successor), types of annuity, drawdown fund arrangements, and scheme types.
• Key structural terms such as money purchase arrangement, lifetime annuity, insurance company, overseas pension scheme, and relevant non-UK scheme are also defined by reference to the Finance Act 2004.
• This section acts as a glossary, ensuring that sections 646B to 646E are interpreted consistently with the wider pension tax legislation in the Finance Act 2004.