# The Pension Protection Fund (Compensation) Regulations 2005, Regulation 19: Commutation of periodic compensation

Extent: E+W+S

(1) The prescribed circumstances for the purposes of paragraph 24(1) of Schedule 7 to the Act (commutation of periodic compensation) are the circumstances specified in paragraph (2) .
(2) The circumstances are that a person entitled to periodic compensation under paragraph 5, 8, 11 or 15 of Schedule 7 (pension compensation provisions)—
(a) must not have exercised an option to commute for a lump sum a portion of the pension in respect of which that person is entitled to periodic compensation; and
(b) must exercise the option to commute under paragraph 24(1) of Schedule 7 within six months beginning with the date on which—
(i) the Board gives the trustees or managers of the scheme a transfer notice under section 160(2) of the Act (transfer notice); or
(ii) payment of periodic compensation commences,
whichever is the later.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2005/670/regulation/19 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-compensation-regulations-2005/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.