Regulation 92 Adjustment to the amount of the pension credit – payments made without knowledge of the pension debit

As made

If–

(a)

a person’s shareable rights under the Scheme have become subject to a pension debit;

(b)

the administering authority makes a payment which is referable to those rights without knowing of the pension debit; and

(c)

the cash equivalent of the member’s shareable rights after deduction of the payment is less than the amount of the pension debit,

the pension credit shall be reduced to that lesser amount^f1.

Annotations

f1: See the 1999 Act, Schedule 5, paragraph 9 and regulation 17 of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000 (S.I. 2000/1053).