Paragraph 66 Indirect compensationF1

This paragraph applies where pursuant to an application under paragraph 67, the Scheme manager determines that an immediate choice member (“M”) has incurred a compensatable loss that is a Part 4 tax loss (a “relevant loss”),

M is not to be paid an amount under section 23 of PSPJOA 2022 by way of compensation in respect of the relevant loss.

Instead, the amount of benefit payable under the Scheme is to be increased to reflect the amount of the relevant loss in such manner as determined by the Scheme manager in accordance with direction 10(2) to (4) of the PSP Directions 2022.