SCHEDULES

C1C5C4C6C2C3SCHEDULE 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

Early payment of compensation

25

I11

Regulations may prescribe circumstances in which, and conditions subject to which, a person may become entitled to—

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 applies, normal benefit age).

I22

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.

I23

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.