11.—(1) This regulation applies to a person in category A, B or C in respect of whom a lump sum is calculated under regulation 35(1) (commutation and small pensions) of the 2014 Regulations before 1st October 2023 (“the original payment”).
(2) Regulations 4A to 4T (statutory underpin) of the Transitional Regulations are to be applied to the person and it is to be determined whether they are entitled to a final guarantee amount.
(3) The original payment is to be recalculated in accordance with actuarial guidance issued by the Department.
(4) Notwithstanding regulation 35(3) of the 2014 Regulations (member entitled to no further benefits after payment), where the recalculated payment exceeds the original payment, the difference is to be paid to the person without undue delay.
Commencement Information
I1Reg. 11 in operation at 1.10.2023, see reg. 1(1)