The Pensions (Northern Ireland) Order 2005, Cross Heading: Pension compensation 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.
254.—(1) The 1995 Order is amended as follows.
(2) In Article 78 (review of decisions of the Pensions Compensation Board) after paragraph (2) insert—
“(2A) The Compensation Board may also review such a determination without an application being made.” .
(3) In Article 79 (cases where compensation provisions apply), omit paragraphs (1)(d), (2A) and (7).
(4) In Article 81 (amount of compensation) for paragraphs (3) and (4) substitute—
“(3) The amount of the payment, or (if there is more than one) the aggregate, must not exceed the aggregate of—
(a)the amount (if any) by which the shortfall at the application date exceeds the recoveries of value made between the application date and the settlement date, and
(b)interest at the prescribed rate for the prescribed period on the amount of that excess (if any).” .
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