The Financial Assistance Scheme Regulations 2005 No. 1986

SCHEDULE 2 U.K. DETERMINATION OF ANNUAL AND INITIAL PAYMENTS

Cap on expected pension and actual pension U.K.

7.—(1) Where the amount of a qualifying member's expected pension determined in accordance with the previous provisions of this Schedule multiplied by [F1 0.9] , F2 ... exceeds [F3 £26,000], the amount of the annual payment payable to, or in respect of, that member under paragraphs 3 to 5 shall be determined on the basis that the product of that calculation was [F3 £26,000].

(2) Where the amount of a qualifying member's actual pension determined in accordance with paragraph 2 exceeds—

(a) the amount of a qualifying member's expected pension determined in accordance with the previous provisions of this Schedule multiplied by [F1 0.9] F4 ...; or

(b) [F3 £26,000],

no annual payment shall be payable to, or in respect of, that member.

Textual Amendments

F1 Word in Sch. 2 substituted (4.6.2008) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2008 (S.I. 2008/1432), regs. 1, 7(2) (with reg. 8)

F2 Words in Sch. 2 para. 7(1) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 7(7)(a)

F3 Word in Sch. 2 para. 7 substituted (19.12.2007) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 7(7)(c)

F4 Words in Sch. 2 para. 7(2)(a) omitted (19.12.2007) by virtue of The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2007 (S.I. 2007/3581), regs. 1(1), 7(7)(b)