SCHEDULES

SCHEDULE 4Pension Protection Fund

Pension compensation sharing: postponement of compensation

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(1)

In paragraph 5 (periodic compensation for widow etc of transferee over pension compensation age on transfer day)—

(a)

in sub-paragraph (3) after “(including” insert “ any actuarial increase under paragraph 16A and ”, and

(b)

after sub-paragraph (3) insert—

“(3A)

If, on the day the transferee (“T”) died, commencement of T's periodic compensation under paragraph 4 was postponed by virtue of paragraph 16A, assume for the purposes of sub-paragraph (3) that the periodic compensation commenced immediately before the date of T's death.”

(2)

In paragraph 7 (periodic compensation for widow etc of transferee under pension compensation age on transfer day)—

(a)

in sub-paragraph (3)(a) after “(see paragraph 8)” insert “ , any actuarial increase under paragraph 16A ”,

(b)

in sub-paragraph (3)(b) after sub-paragraph (ii) insert—

“(assuming commencement of the periodic compensation was not postponed by virtue of paragraph 16A).”, and

(c)

after sub-paragraph (3) insert—

“(3A)

For the purposes of sub-paragraph (3)(a), if on the day the transferee (“T”) died commencement of T's periodic compensation under paragraph 6 was postponed by virtue of paragraph 16A, assume that the periodic compensation commenced immediately before the date of T's death.”