SCHEDULES
C1SCHEDULE 5Pension compensation payable on discharge of pension compensation credit
Annotations:
Modifications etc. (not altering text)
Part 3Transferee attains pension compensation age after transfer day
Compensation payable to transferee
6
1
Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age after the transfer day.
2
The transferee is entitled to periodic compensation commencing at that age and continuing for life.
3
The annual rate of the periodic compensation is the aggregate of—
a
the initial annual rate of compensation,
b
the revaluation amount (see paragraph 8), F1...
F2ba
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
c
any increases under paragraph 17 (annual increases in periodic compensation).
Sch. 5 applied (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c 19 - see S.I. 2014/1683, art. 2