SCHEDULES
SCHEDULE 20Pension schemes etc: miscellaneous
Unsecured and dependants' unsecured pensions: reference periods
8
1
Schedule 28 (pension rules) is amended as follows.
2
In paragraph 10 (reference periods for unsecured pensions), for sub-paragraph (1) substitute—
1
Subject as follows, the period of five unsecured pension years beginning with the first unsecured pension year, and each succeeding period of five unsecured pension years, is a “reference period”.
1A
Sub-paragraph (1B) applies if, at any time during a reference period (“the current reference period”), the member notifies the scheme administrator that the member wishes a new reference period to begin on the next day that is an anniversary of the reference date in relation to the current reference period.
1B
The scheme administrator may determine—
a
that the current reference period is to end immediately before that day (so that sub-paragraph (1) no longer applies), and
b
that (subject to any further operation of this sub-paragraph) the period of five unsecured pension years beginning with that day, and each succeeding period of five unsecured pension years, is to be a reference period.
1C
The first day of each reference period is, in relation to that period, “the reference date”.
3
In paragraph 24 (reference periods for dependants' unsecured pensions), for sub-paragraph (1) substitute—
1
Subject as follows, the period of five unsecured pension years beginning with the first unsecured pension year, and each succeeding period of five unsecured pension years, is a “reference period”.
1A
Sub-paragraph (1B) applies if, at any time during a reference period (“the current reference period”), the dependant notifies the scheme administrator that the dependant wishes a new reference period to begin on the next day that is an anniversary of the reference date in relation to the current reference period.
1B
The scheme administrator may determine—
a
that the current reference period is to end immediately before that day (so that sub-paragraph (1) no longer applies), and
b
that (subject to any further operation of this sub-paragraph) the period of five unsecured pension years beginning with that day, and each succeeding period of five unsecured pension years, is to be a reference period.
1C
The first day of each reference period is, in relation to that period, “the reference date”.