Part 4 Provisions Applicable Irrespective of Age of Transferee On Transfer Day
Pensions Act 2008 (2008 c 30) | Legislation

Part 4 Provisions Applicable Irrespective of Age of Transferee On Transfer Day

[Postponement of compensation

16A

(1)     Regulations may prescribe circumstances in which, and conditions subject to which, a person who becomes entitled to periodic compensation under paragraph 4 or 6 may elect to postpone the commencement of periodic compensation under that paragraph.

(2)     Where the commencement of periodic compensation under paragraph 4 or 6 ceases to be postponed, the Board must determine—

(a)     the relevant amount, as at the time the periodic compensation would have commenced if its commencement had not been postponed, and

(b)     the amount in paragraph (a), increased in accordance with actuarial factors published by the Board.

(3)     References in this Schedule to the amount of an actuarial increase under this paragraph are to the difference between the amounts in sub-paragraphs (2)(a) and (2)(b).

(4)     In sub-paragraph (2) the “relevant amount†means (as appropriate)—

(a)     the amount mentioned in paragraph 4(3)(a), or

(b)     the aggregate of the amounts mentioned in paragraph 6(3)(a) and (b).]

Annual increase in periodic compensation

17

(1)     This paragraph provides for annual increases to compensation payable to the transferee.

(2)     The transferee is entitled, on each

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