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Pensions (No. 2) Act (Northern Ireland) 2008
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- Acts of the Northern Ireland Assembly
- 2008 c. 13
- SCHEDULE 4
- PART 3
- Compensation payable to transferee
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Pensions (No. 2) Act (Northern Ireland) 2008, Cross Heading: Compensation payable to transferee is up to date with all changes known to be in force on or before 09 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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- s. 24(1)(c) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 39(2)(d)
Compensation payable to transfereeN.I.
6—(1) Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age after the transfer day.N.I.
(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), F1...
[F2(ba)if the commencement of periodic compensation under this paragraph has been postponed for any period by virtue of paragraph 16A, the amount of the actuarial increase under that paragraph, 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),
F3...
paragraph 15 (terminal illness lump sum), F4...
[F5paragraph 16A (postponement of compensation), and]
paragraph 18 (compensation cap).
Textual Amendments
F1Word in Sch. 4 para. 6(3)(b) omitted (27.3.2013) by virtue of Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 31(3)(a); S.R. 2013/83, art. 2(b)(iii)
F2Sch. 4 para. 6(3)(ba) inserted (27.3.2013) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 31(3)(b); S.R. 2013/83, art. 2(b)(iii)
F3Words in Sch. 4 para. 6(4) omitted (27.3.2013) by virtue of Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 31(4)(a); S.R. 2013/83, art. 2(b)(iii)
F4Word in Sch. 4 para. 6(4) omitted (27.3.2013) by virtue of Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 31(4)(b); S.R. 2013/83, art. 2(b)(iii)
F5Words in Sch. 4 para. 6(4) inserted (27.3.2013) by Pensions Act (Northern Ireland) 2012 (c. 3), s. 34(3), Sch. 4 para. 31(4)(c); S.R. 2013/83, art. 2(b)(iii)
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