An alternatively secured pension that is paid to a dependant who is age 77 or over, from 22 June 2010, or was aged 75 or over prior to this date, following the death of a member.
The amount of pension that can be drawn down is between 55% and 90% of the amount of annuity that could be provided using the Government Actuary's Department's annuity rate applicable for a person age 75
On the death of a member in receipt of an alternatively secured pension the fund may, in certain circumstances, be subject to Inheritance and other taxes.