Schedules

SCHEDULE 4Pension Protection Fund

Pension compensation sharing: postponement of compensation

I134

1

In paragraph 12 (eligibility for terminal illness lump sum)—

a

in sub-paragraph (4) in the definition of “relevant age”—

i

in paragraph (a) omit “or deferred” and “or (as the case may be) 11”, and

ii

in paragraph (b) omit “or deferred”, and

b

after sub-paragraph (4) insert—

5

Sub-paragraph (6) applies where the commencement of a person's periodic compensation under paragraph 6 is postponed by virtue of paragraph 16A.

6

This paragraph applies as if—

a

the person first becomes entitled to compensation under paragraph 6 immediately after the period of postponement ends, and

b

in sub-paragraph (1)(b), for “if the transferee lived to the relevant age, he or she would become entitled on attaining that age” there were substituted “ if the period of postponement ended, the transferee would become entitled ”.

2

In paragraph 15 (effect of successful application for terminal illness lump sum) after sub-paragraph (3) insert—

4

Where on the granting of the application the commencement of a person's periodic compensation under paragraph 6 is postponed by virtue of paragraph 16A, this paragraph applies as if the references to the transferee attaining the relevant age were references to the period of postponement ending.