SCHEDULES

SCHEDULE 20PENSION PROTECTION FUND: INCREASED COMPENSATION CAP FOR LONG SERVICE

PART 2EFFECT OF CHANGE IN TRANSISTIONAL CASES

New cap does not generally affect old payments

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1

Nothing in this Schedule affects—

a

periodic compensation for a person for periods before the commencement date, or

b

lump sum compensation for a person who became entitled to the compensation before the commencement date.

2

In this paragraph—

  • “periodic compensation” means compensation within paragraph 26(4)(a), (b) or (d) of Schedule 6 to the 2005 Order,

  • “lump sum compensation” means compensation within paragraph 26(4)(c) or (e) of that Schedule.