The Financial Assistance Scheme Regulations 2005

[F1Amount of the payment where regulation 17H appliesU.K.

This section has no associated Explanatory Memorandum

3.  Where a qualifying member is entitled to a payment in accordance with regulation 17H, the amount of that payment shall be the sum of—

(a)the notional pension in relation to the qualifying member; and

(b)the total amount of any annual increases which the scheme manager has determined under regulation 27 could be paid on the notional pension from the later of—

(i)the date on which the qualifying member began to receive a present payment from the scheme; and

(ii)the date on which the scheme began to be wound up,

until the day on which the transfer notice is given,

less any amount by which the scheme manager determines a payment is to be reduced under paragraph 1(2) or (5).]

Textual Amendments