SCHEDULES
SCHEDULE 4Pension Protection Fund
Postponement of compensation
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1
In paragraph 25B (eligibility for terminal illness lump sum)—
a
in sub-paragraph (4) in the definition of “relevant age”—
i
in paragraph (a) omit “or deferred” and “or (as the case may be) 25A”, and
ii
in paragraph (b) omit “or deferred”, and
b
after sub-paragraph (4) insert—
5
Sub-paragraph (6) applies where—
a
the commencement of a person's periodic compensation under paragraph 11 or 15 is postponed by virtue of paragraph 25A, or
b
the payment of a person's lump sum compensation under paragraph 14 or 19 is postponed by virtue of that paragraph.
6
This paragraph applies as if—
a
the person first becomes entitled to compensation under the paragraph in question immediately after the period of postponement ends, and
b
in sub-paragraph (1)(b), for “if the person lived to the relevant age, the person would become entitled on attaining that age” there were substituted
“ if the period of postponement ended, the person would become entitled ”.
2
In paragraph 25E (effect of successful application for terminal illness lump sum) after sub-paragraph (6) insert—
7
Where on the granting of the application—
a
the commencement of a person's periodic compensation under paragraph 11 or 15 is postponed by virtue of paragraph 25A, or
b
the payment of a person's lump sum compensation under paragraph 14 or 19 is postponed by virtue of that paragraph,
this paragraph applies as if the references to the person attaining the relevant age were references to the period of postponement ending.