SCHEDULES

SCHEDULE 6 PENSION COMPENSATION PROVISIONS

Board’s powers to alter rates of revaluation and indexation
29. (1) The Board may determine the percentage that is to be the maximum revaluation rate for the purposes of paragraphs 12(4) and 17(4), and where it does so paragraphs 12(5) and 17(5) do not apply.
(2) The Board may also determine the percentage that is to be the appropriate percentage for the purposes of paragraph 28 (and where it does so the definition of “appropriate percentage” in paragraph 28(3) does not apply).
(3) Before making a determination under this paragraph the Board must—
(a) consult such persons as it considers appropriate, and
(b) publish details of the proposed determination in such manner as it considers appropriate and consider any representations made in respect of it.
(4) The rate determined under this paragraph may be nil.
(5) A determination under this paragraph may be expressed so as to have effect for a limited period.
(6) A determination under sub-paragraph (2)—
(a) has effect in relation to future increases under paragraph 28 only, and
(b) may be expressed to have effect—
(i) in all cases (whether the entitlement to the periodic compensation first arose before or after the date the determination is made), or
(ii) only in cases where entitlement to the periodic compensation first arose on or after a date determined by the Board.
(7) Notice of any determination under this paragraph must be published in such manner as the Board considers appropriate.