Explanatory Memorandum

Pensions (No. 2) Act (Northern Ireland) 2008

2008 CHAPTER 13

15 December 2008

Commentary on Sections

Schedule 1: Revaluation of accrued benefits etc.

Part 2

Part 2 ensures Pension Protection Fund compensation is paid based on revised revaluation rates as set out in Part 1 of this Schedule.

Paragraph 7 makes a consequential amendment to the provision allowing the Board of the Pension Protection Fund to alter the maximum revaluation rate.