No versions valid at: 29/06/2009
Point in time view as at 29/06/2009. This version of this cross heading contains provisions that are not valid for this point in time.
Pensions (No. 2) Act (Northern Ireland) 2008, Cross Heading: Compensation payable to transferee is up to date with all changes known to be in force on or before 06 March 2025. 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.
Yn ddilys o 06/04/2011
6—(1) Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age after the transfer day.N.I.
(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), and
(c)any increases under paragraph 17 (annual increases in periodic compensation).
(4) This paragraph is subject to—
paragraph 9 (commutation),
paragraph 10 (early payment),
paragraph 11 (deferred payment),
paragraph 15 (terminal illness lump sum), and
paragraph 18 (compensation cap).
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