Pensions Act 2008, Paragraph 13 is up to date with all changes known to be in force on or before 01 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.
13E+W+SAfter paragraph 25 insert—
25A(1)Regulations may prescribe circumstances in which, and conditions subject to which, a person may elect to defer entitlement to any relevant compensation until some time after attaining normal pension age (or, in a case to which paragraph 21 applies, normal benefit age).
(2)For this purpose “any relevant compensation” means any compensation to which a person is or will be entitled under the pension compensation provisions, except for compensation payable in accordance with paragraph 3 (pensions in payment at assessment date).
(3)The Board must determine the amount of the actuarial increase to be applied to compensation to which a person is entitled by virtue of this paragraph.
(4)Where, by virtue of this paragraph, periodic compensation is payable to a person under paragraph 11 or 15 after that person attains normal pension age (or, in a case to which paragraph 21 applies, normal benefit age)—
(a)paragraph 12(2) applies as if the reference to the date on which the active member attains normal pension age were a reference to the date on which the compensation is payable by virtue of this paragraph, and
(b)paragraph 17(2)(b) applies as if the reference to the date on which the deferred member attains normal pension age were a reference to the date on which the compensation is payable by virtue of this paragraph.”
Commencement Information
I1Sch. 8 para. 13 partly in force; para. 13 not in force at Royal Assent see s. 149(1); para. 13 in force for specified purposes at 1.4.2009 by S.I. 2009/809, art. 2(b)(ii)
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