87 General protection principle
Pension Schemes Act 1993 (1993 c 48) | Legislation

Chapter III
Protection of Increases in Guaranteed Minimum Pensions (“Anti-franking”)

87  General protection principle

(1)     This subsection applies where—

(a)     there is an interval between—

[(i)     the date (“the cessation date”) which is the earlier of—

(a)     the date on which an earner ceases to be in pensionable service under a scheme that was, before the second abolition date, a salary related contracted-out scheme; and

(b)     the date on which the earner attains pensionable age;] and

(ii)     the date on which his guaranteed minimum pension under that scheme commences (“the commencement of payment date”);

(b)     the relevant sum exceeds his guaranteed minimum on the day after the cessation date; and

(c)     on the commencement of payment date or at any time after it his guaranteed minimum pension under the scheme exceeds the amount of his guaranteed

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