SCHEDULE 2 Revaluation of Accrued Benefits etc | Part 2 | Revaluation Of Accrued Amounts Etc | Pensions Act 2008 C30

Part 2 Revaluation of Accrued Amounts etc

Pensions Act 2008 (2008 c 30) | Legislation

Part 2 Revaluation of Accrued Amounts etc

Amendments to Schedule 7 to the 2004 Act

This Part makes amendments to Schedule 7 to the Pensions Act 2004 (c 35) (pension compensation provisions).

(1) Paragraph 12 (active members who have not attained normal pension age at assessment date: the revaluation amount for the revaluation period) is amended as follows.

(2) In sub-paragraph (3), for paragraph (b) substitute—

“(b) in any other case, the aggregate of—

(i) the higher revaluation percentage of so much of the accrued amount as is attributable to the active member's pensionable service falling before the day on which section 101 of the Pensions Act 2008 comes into force (“the 2008 Act commencement day”), and

(ii) the lower revaluation percentage of so much of the accrued amount as is attributable to the active member's pensionable service falling on or after that day.”

(3) After sub-paragraph (3) insert—

“(3A) For the purposes of sub-paragraph (3)(b)—

(a) any service within paragraph 36(4)(b) (notional pensionable service) is to be treated as falling on or after the 2008 Act commencement day if, or to the extent that, it is so treated for the purposes of the scheme;

(b)