The Pension Protection Fund (Compensation) Regulations 2005

Manner of determining the revaluation percentage in the case of deferred members who have not attained normal pension age at assessment date

15.  For the purposes of paragraph 17(4)(a) of Schedule 7 to the Act (determination of revaluation percentage in the case of deferred members who have not attained normal pension age at assessment date) the manner prescribed for the determination of the percentage increase in the general level of prices in Great Britain during the revaluation period is—

where—

a

A is the level of the retail prices index for the month which falls two months before the month during which the deferred member—

(i)

attains normal pension age in respect of the payment of the periodic compensation or, as the case may be, the lump sum compensation; or

(ii)

becomes entitled to—

[a]

periodic compensation under paragraph 15; or

[b]

lump sum compensation under paragraph 19,

of Schedule 7 to the Act calculated in accordance with paragraph 25 of Schedule 7 to the Act and regulations made under that paragraph; and

b

B is the level of the retail prices index for the month two months before the month during which the assessment date falls.