SCHEDULES

C1C5C4C6C2C3C7SCHEDULE 7Pension compensation provisions

Annotations:
Modifications etc. (not altering text)
C1

Sch. 7 amendment to earlier affecting provision S.I. 2005/652, reg. 14(2) (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 7

Deferred members who have not attained normal pension age at assessment date

18

I21

This paragraph applies where—

a

the deferred member dies on or after the assessment date, and

b

the pension was attributable to the deferred member’s pensionable service.

I22

Subject to sub-paragraph (4), the widow or widower of the deferred member is entitled to periodic compensation commencing on the day following the deferred member’s death and continuing for life.

I23

The annual rate of the periodic compensation at any time is—

a

where the deferred member died after attaining normal pension age, half of the annual rate of the periodic compensation (including any increases under paragraph 28) to which the deferred member would at that time have been entitled under paragraph 15 in respect of the pension had the member not died,

b

where the deferred member died before attaining normal pension age, half of the annual rate of the periodic compensation (including any increases under paragraph 28) to which the deferred member would have been entitled at that time under paragraph 15 if—

i

normal pension age had been the deferred member’s actual age immediately before the date of the deferred member’s death, and

ii

the deferred member had not died.

I14

The deferred member’s widow or widower is not entitled to periodic compensation under this paragraph in such circumstances as may be prescribed.

I25

In this paragraph “the deferred member” and “the pension” are to be construed in accordance with paragraph 15.