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The Pension Protection Fund (Compensation) Regulations 2005

Changes over time for: PART 2

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Version Superseded: 06/04/2016

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Point in time view as at 01/10/2013.

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PART 2E+W+SEarly payment of compensation

Circumstances where a person shall be entitled to early payment of compensationE+W+S

2.—(1) The conditions subject to which a person may become entitled to—

(a)periodic compensation under paragraphs 11 or 15; or

(b)lump sum compensation under paragraphs 14 or 19,

of Schedule 7 to the Act before he attains normal pension age are those prescribed in the following paragraphs of this regulation.

(2) Those conditions are—

(a)that the person has given notice to the Board, in accordance with paragraph (3), that he wishes to receive that compensation before he attains normal pension age; and

[F1(b)that on the date on which the compensation is to become payable early—

(i)the person has attained the age of 55; or

(ii)paragraph 22 of Schedule 36 to the 2004 Act (rights to take benefit before normal minimum benefit age) applies to the person and that person has attained—

(aa)the age of 50; and

(bb)the age referred to in paragraph 22(8) of that Schedule.]

(3) The notice referred to in paragraph (2)(a)—

(a)must include—

(i)the person's name, address, date of birth and national insurance number;

[F2(ii)the name of the scheme for which the Board has assumed responsibility (“the relevant scheme”); and]

(iii)the date on which the person would like the compensation to become payable early[F3; and]

(b)must not be given before the date on which the Board assumes responsibility for the relevant scheme; and

F4(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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