PART IVALTERNATIVE DISCRETIONARY AWARDS FOR THOSE AGED 50 AND OVER

Annual compensation: general provisions10

1

Subject to Part V, an eligible person who has been awarded a credited period is entitled to annual compensation.

2

The rate at which annual compensation is payable, unless adjusted in accordance with Part V, VI or VII, is the same as that by which the pension to which –

a

he is entitled under regulation 28 of the Pension Regulations; or

b

would be so entitled, but for a relevant disqualification

would be increased, on the relevant assumptions and in accordance with those Regulations, if his total membership were increased by the relevant credited period.

3

Annual compensation is payable from the day after the termination date.