SCHEDULES

Section 50

SCHEDULE 20E+W+SPension Protection Fund: increased compensation cap for long service

Part 1E+W+SThe new compensation cap

F11E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 20 paras. 1-3 omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 6(b)(i)

F12E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Part 2E+W+SConsequential amendments

4E+W+SThe Pensions Act 2004 is amended as follows.

Commencement Information

I1Sch. 20 para. 4 in force at 6.4.2017 by S.I. 2017/297, art. 2(b)

F25E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2Sch. 20 para. 5 omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 6(b)(ii)

6(1)Schedule 7 is amended as follows.E+W+S

(2)In paragraph 24(2), at the end insert “ of the periodic compensation at that time ”.

F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3Sch. 20 para. 6(3)(4) omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 6(b)(iii)

Commencement Information

I2Sch. 20 para. 6(1)(2)(4) in force at 6.4.2017 by S.I. 2017/297, art. 2(b)

F47E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4Sch. 20 paras. 7-22 omitted (coming into force in accordance with reg. 1(b) of the amending S.I.) by virtue of The Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 (S.I. 2023/1309), reg. 6(b)(iv)

Part 3E+W+SEffect of change in transitional cases

Recalculation of periodic compensation going forwardsE+W+S

F48E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

New cap does not generally affect old paymentsE+W+S

F49E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Survivors' compensationE+W+S

F410E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Cases involving early payment or postponement of compensationE+W+S

F411E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Recalculation of terminal illness lump sums given in the past yearE+W+S

F412E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Meaning of “the pension compensation provisions” in Part 2 of the Pensions Act 2004E+W+S

F413E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Part 4E+W+SSchemes undergoing assessment or winding up on the commencement date

Schemes undergoing assessment on the commencement dateE+W+S

F414E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Schemes that begin winding up before the commencement dateE+W+S

F415E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Meaning of “undergoing assessment”E+W+S

F416E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Meaning of “eligible scheme”E+W+S

F417E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Part 5E+W+SInterpretation and power to make further transitional provision

InterpretationE+W+S

F418E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F419E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Further transitional provisionE+W+S

F420E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F421E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F422E+W+S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments