Paragraph 10A Shared initial paymentsF1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 2 para. 7(1)(b) words inserted by Pension Schemes Act 2026 s. 111(2)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(a)
Sch. 2 para. 9(2) word omitted by Pension Schemes Act 2026 s. 111(4)(b)(i)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(b)(ii)
Sch. 2 para. 9(2) words inserted by Pension Schemes Act 2026 s. 111(4)(c)
Sch. 2 para. 9(2A)-(2D) inserted by Pension Schemes Act 2026 s. 111(5)
Sch. 2 para. 9(3) words inserted by Pension Schemes Act 2026 s. 111(6)(a)
Sch. 2 para. 9(3) words substituted by Pension Schemes Act 2026 s. 111(6)(b)

(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—

\frac{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) 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.

Annotations

Textual amendments

F1: Sch. 2 para. 10A inserted (10.7.2009) by The Financial Assistance Scheme (Miscellaneous Provisions) Regulations 2009 (S.I. 2009/1851), regs. 1, 30 (with reg. 37)