Regulation 30 Amendment of Schedule 2 – shared initial payments

After paragraph 10 of Schedule 2 (initial payments), insert—

“Shared initial payments

10A.

(1)

Where two or more survivors of a qualifying member are entitled to a shared initial payment by virtue of regulation 18(4B), the amount of each survivor’s shared initial payment shall be—

$$\genfrac{}{}{0.1ex}{}{Z-Y}{N}$$

(2)

In this paragraph—

• “N” means the number of survivors of the qualifying member;

• “Y” means the sum of the interim pensions of all the survivors which would have been determined in accordance with paragraph 5(3)^f1 had that paragraph applied to the survivors; and

• “Z” means the product of 0.9 multiplied by the expected pension which would have been determined in accordance with paragraph 5(3) had that paragraph applied to the survivors.”.