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Pensions Act 2008
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Pensions Act 2008, Paragraph 4 is up to date with all changes known to be in force on or before 29 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 5 Paragraph 4:
- s. 3(1A) inserted by 2023 c. 44 s. 1(2)
- s. 5(1C) inserted by 2023 c. 44 s. 1(3)
- s. 13(3)(ec) inserted by 2023 c. 20 Sch. para. 56
- s. 13A inserted by 2023 c. 44 s. 1(4)
- s. 24(1)(c) inserted by 2015 c. 8 Sch. 2 para. 43(2)(d)
- s. 143(6)(7) inserted by 2023 c. 44 s. 1(5)(b)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 3(1A) inserted by 2023 c. 44 s. 1(2)
- s. 5(1C) inserted by 2023 c. 44 s. 1(3)
- s. 13(3)(ec) inserted by 2023 c. 20 Sch. para. 56
- s. 13A inserted by 2023 c. 44 s. 1(4)
- s. 24(1)(c) inserted by 2015 c. 8 Sch. 2 para. 43(2)(d)
- s. 143(6)(7) inserted by 2023 c. 44 s. 1(5)(b)
This section has no associated Explanatory Notes
4(1)Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age before or on the transfer day.E+W+S
(2)The transferee is entitled to periodic compensation commencing on the transfer day and continuing for life.
(3)The annual rate of the periodic compensation is the aggregate of—
(a)the initial annual rate of compensation, F1...
[F2(aa)if the commencement of periodic compensation under this paragraph has been postponed for any period by virtue of paragraph 16A, the amount of the actuarial increase under that paragraph, and]
(b)any increases under paragraph 17 (annual increases in periodic compensation).
(4)This paragraph is subject to [F3paragraph 16A (postponement of compensation) and] paragraph 18 (compensation cap).
Textual Amendments
F1Word in Sch. 5 para. 4(3)(a) omitted (13.3.2013) by virtue of Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(1)(a); S.I. 2013/585, art. 2(b)(iii)
F2Sch. 5 para. 4(3)(aa) inserted (13.3.2013) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(1)(b); S.I. 2013/585, art. 2(b)(iii)
F3Words in Sch. 5 para. 4(4) inserted (13.3.2013) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(2); S.I. 2013/585, art. 2(b)(iii)
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