Search Legislation

Advanced Search

Pensions Act 2004

Section 162: The pension compensation provisions

569.This section provides that Schedule 7 makes provisions for the compensation to be paid where the Board assumes responsibility for a scheme. This includes provision for:

  • periodic compensation to be paid to or in respect of members;

  • lump sum compensation to be paid to members;

  • a cap to be imposed on the periodic compensation and lump sum compensation;

  • annual increases to be made to periodic compensation.

570.Subsection (2) makes clear that references in Part 2 to the pension compensation provisions are to the provisions of this section, section 140 to 142, 161(2)(c) , 164 and 168 and Schedule 7.

Back to top

Options/Help

Print Options

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources

The data on this page is available in the alternative data formats listed: