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SCHEDULES

SCHEDULE 7E+W+SPension compensation provisions

Modifications etc. (not altering text)

C1Sch. 7 amendment to earlier affecting provision S.I. 2005/652, reg. 14(2) (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 7

C8Sch. 7 applied (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c. 19 - see S.I. 2014/1683, art. 2

C9Sch. 7 applied (24.7.2014 immediately after 2011 c. 19, s. 29, see S.I. 2014/1683, art. 2) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1))

C10Sch. 7 modified by S.I. 2005/670, reg. 29 (as inserted in Pt. 12 of S.I. 2005/670 by S.I. 2018/95, reg. 2(6)) (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations 2018 (S.I. 2018/95), regs. 1, 2(6)

C11Sch. 7 modified by S.I. 2005/670, reg. 30 (as inserted (for specified purposes and with effect in accordance with reg. 30(3)-(5) of the amending S.I.) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (S.I. 2018/988), regs. 1(2)(b), 2(3))

Survivors who do not meet conditions for scheme benefits at assessment dateE+W+S

22(1)Compensation is payable in accordance with this paragraph where—E+W+S

(a)a member of the scheme has died before the assessment date,

(b)as a result of that death, a pension, which is attributable to the member’s pensionable service, is payable to that person’s widow or widower or any other person (“the survivor”) if conditions specified in the scheme rules are met, and

(c)the survivor first satisfies those conditions on or after that date.

(2)The survivor is entitled to periodic compensation in respect of that pension (“the pension”)—

(a)commencing if, and when, the pension would have become payable under the admissible rules, and

(b)continuing until such time as entitlement to the pension would have ceased under the admissible rules.

(3)The annual rate of the periodic compensation is 100% of the aggregate of—

(a)the initial rate of the pension which would have been payable in accordance with the admissible rules had the conditions mentioned in sub-paragraph (1)(c) been satisfied, immediately before the assessment date, and

(b)any increases under paragraph 28 (annual increases in periodic compensation).

[F1(4)This paragraph is subject to—

Textual Amendments

Commencement Information

I1Sch. 7 para. 22 in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7