Point in time view as at 18/01/2020.
Pensions Act 2008, Paragraph 4 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
4(1)Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age before or on the transfer day.E+W+S
(2)The transferee is entitled to periodic compensation commencing on the transfer day and continuing for life.
(3)The annual rate of the periodic compensation is the aggregate of—
(a)the initial annual rate of compensation, F1...
[F2(aa)if the commencement of periodic compensation under this paragraph has been postponed for any period by virtue of paragraph 16A, the amount of the actuarial increase under that paragraph, and]
(b)any increases under paragraph 17 (annual increases in periodic compensation).
(4)This paragraph is subject to [F3paragraph 16A (postponement of compensation) and] paragraph 18 (compensation cap).
Textual Amendments
F1Word in Sch. 5 para. 4(3)(a) omitted (13.3.2013) by virtue of Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(1)(a); S.I. 2013/585, art. 2(b)(iii)
F2Sch. 5 para. 4(3)(aa) inserted (13.3.2013) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(1)(b); S.I. 2013/585, art. 2(b)(iii)
F3Words in Sch. 5 para. 4(4) inserted (13.3.2013) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 31(2); S.I. 2013/585, art. 2(b)(iii)
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
