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Pensions Act 2008

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This is the original version (as it was originally enacted).

Compensation payable to transferee

This section has no associated Explanatory Notes

6(1)Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age after the transfer day.

(2)The transferee is entitled to periodic compensation commencing at that age and continuing for life.

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

(a)the initial annual rate of compensation,

(b)the revaluation amount (see paragraph 8), and

(c)any increases under paragraph 17 (annual increases in periodic compensation).

(4)This paragraph is subject to—

  • paragraph 9 (commutation),

  • paragraph 10 (early payment),

  • paragraph 11 (deferred payment),

  • paragraph 15 (terminal illness lump sum), and

  • paragraph 18 (compensation cap).

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