SCHEDULES

SCHEDULE 20Pension Protection Fund: increased compensation cap for long service

Part 3Effect of change in transitional cases

9New cap does not generally affect old payments

1

Nothing in this Schedule affects—

a

periodic compensation for a person for periods before the commencement date, or

b

lump sum compensation for a person who became entitled to the compensation before the commencement date.

2

In this paragraph—

  • “periodic compensation” means compensation within paragraph 26(4)(a), (b) or (d) of Schedule 7 to the Pensions Act 2004;

  • “lump sum compensation” means compensation within paragraph 26(4)(c) or (e) of that Schedule.