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The Pensions (Northern Ireland) Order 2005
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- Northern Ireland Orders in Council
- 2005 No. 255 (N.I. 1)
- SCHEDULE 6
- Early payment of compensation
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Changes over time for: Early payment of compensation
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- 01/01/2006- Amendment
- 07/06/2012- Amendment
- 01/01/2024
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Early payment of compensationN.I.
25 .F1—(1) Regulations may prescribe circumstances in which, and conditions subject to which, a person may become entitled to—N.I.
(a)periodic compensation under paragraph 11 or 15, or
(b)lump sum compensation under paragraph 14 or 19,
before he attains normal pension age (or, in a case to which paragraph 21 [F2or 21A] applies, normal benefit age).
(2) The Board must determine the amount of the actuarial reduction to be applied to compensation where a person becomes so entitled by virtue of regulations under this paragraph.
(3) Where, by virtue of this paragraph, periodic compensation is payable to a person under paragraph 11 or 15 before that person attains normal pension 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.
F1mod. by SR 2005/171
F2Words in Sch. 6 para. 25(1) inserted (7.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 19(3)(a); S.R. 2012/233, art. 2(2)(k)(iv)
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