The Iron and Steel (Compensation to Employees) Regulations 1968

Adjustment of compensation where pension benefit is also payable

28.—(1) Where any period of service of which account was taken in calculating the amount of any compensation payable under Part IV or V of these regulations is subsequently taken into account for the purpose of calculating the amount of any pension benefit payable to any person in accordance with a pension scheme associated with any employment undertaken subsequent to the loss or diminution of emoluments or of pension rights which was the subject of the claim for compensation, the Corporation may in accordance with this regulation withhold or reduce the compensation payable in respect of any period for which such pension benefit is being received.

(2) If the part of any pension benefit by way of annual amounts which is attributable to a period of service mentioned in paragraph (1) equals or exceeds the part of any compensation by way of annual amounts which is attributable to the same period, that part of the compensation may be withheld, or if such part of the pension benefit is less than such part of the compensation, the compensation may be reduced by an amount not exceeding such part of the pension benefit.

(3) In addition to any reduction authorised by paragraph (2), if, in the circumstances mentioned in paragraph (1), compensation by way of annual amounts is attributable in part to any provision of the last relevant pension scheme for a minimum benefit, the compensation may be reduced by an amount not exceeding that part.

(4) In addition to any other reduction authorised by this regulation, where any period of additional years has been taken into account under regulation 23 compensation by way of annual amounts may be reduced—

(a) if the number of such years is equal to or less than the period spent in the subsequent employment mentioned in paragraph (1),by an amount not exceeding that attributable to the additional years so taken into account;

(b) if the number of such years is greater than the period spent in the subsequent employment so mentioned, by such proportion of that amount as the period spent in the subsequent employment bears to the number of additional years so taken into account.

(5) Where retirement compensation has been calculated in accordance with regulation 22 the provisions of this regulation shall apply only in relation to such part (if any) of the pension benefit as is attributable to annual emoluments in excess of those to which the person was entitled immediately after entering the new employment.

(6) Where compensation is payable in respect of diminution of emoluments or of diminution of pension rights in consequence of diminution of emoluments, the provisions of this regulation shall apply only in relation to such part (if any) of the pension benefit as is attributable to annual emoluments in excess of those to which the person was entitled immediately prior to the diminution.