Regulation K2 Guaranteed minimum pensions

This regulation applies where the member has a guaranteed minimum, in relation to the pension provided for the member under F1this Section of the scheme, in accordance with F2section 13 of the 1993 Act.

The weekly rate of the member’s pension from F3guaranteed minimum pension age will not be less than the member’s guaranteed minimum, except that—

in either of which cases the member’s guaranteed minimum pension will be increased as described in regulation K3 (late retirement).

If the member is a man and dies leaving a widow, the weekly rate of the widow’s pension will not be less than one–half of the member’s guaranteed minimum.

If the member is a woman and dies leaving a widower, the weekly rate of the widower’s pension will not be less than one–half of the part of the member’s guaranteed minimum that is attributable to earnings for the F5tax years 1988-89 to 1996-97 inclusive.

If the member is in a civil partnership and dies leaving a surviving civil partner, the weekly rate of the surviving civil partner’s pension will not be less than one-half of the part of the member’s guaranteed minimum that is attributable to earnings for the tax years 1988-89 to 1996-97 inclusive.

The part of any guaranteed minimum pension that is attributable to earnings for the F7tax years 1988-89 to 1996-97 inclusive and subsequent tax years will be increased each year by the percentage specified in any order made by the Secretary of State under section 109 of the Pension Schemes Act 1993 (annual increases of guaranteed minimum pensions).

A member who on leaving pensionable employment—

but, in either case, remains (as described in regulation L2(3)) entitled to a guaranteed minimum pension or section 9(2B) rights, shall be entitled to the benefits specified in paragraph (7).

The benefits are—

On the death of a member to whom paragraph (6) applies, no benefit will be payable except for a widow’s, widower’s or surviving civil partner’s pension equal to the aggregate of—