The Financial Assistance Scheme Regulations 2005 No. 1986

[F1 SCHEDULE 7 U.K. Determination of payments to early retirees and other beneficiaries

Textual Amendments

F1 Sch. 7 added (2.4.2010) by The Financial Assistance Scheme (Miscellaneous Amendments) Regulations 2010 (S.I. 2010/1149), regs. 1, 18(e), Sch. 2

Amount of the payment where regulation 17G applies U.K.

2.   Where a person is entitled to a payment in accordance with regulation 17G, the amount of that payment shall be sum of—

(a) the amount of the notional pension determined in respect of that person; and

(b) the total amount of any annual increases which the scheme manager has determined under regulation 27 could be paid on the notional pension from the day on which the scheme’s liability to provide a pension or other benefit to the person arose until the day on which the transfer notice was given,

less any amount by which the scheme manager determines a payment is to be reduced under paragraph 1(2) or (5).]