SCHEDULES

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

PART 3SCHEMES UNDERGOING ASSESSMENT OR WINDING UP ON THE COMMENCEMENT DATE

Going forwards, pay pensions on the basis of the new cap during assessment

3

If for any period the scheme is being wound up and is also undergoing assessment (“the overlap period”), sub-paragraph (4) applies.

4

For the purposes of Article 73A of the 1995 Order, as it applies in relation to the overlap period, take into account any effect that this Schedule has on the compensation which would be payable if the Board assumed responsibility for the scheme in accordance with Chapter 3 of Part 3 of the 2005 Order.