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.