{
  "url": "https://openlegislation.uk/pension-protection-fund-compensation-regulations-2005/regulation-28",
  "json_url": "https://openlegislation.uk/pension-protection-fund-compensation-regulations-2005/regulation-28.json",
  "legislation": "uksi/2005/670",
  "legislation_title": "The Pension Protection Fund (Compensation) Regulations 2005",
  "legislation_url": "https://openlegislation.uk/pension-protection-fund-compensation-regulations-2005",
  "path": "regulation/28",
  "kind": "regulation",
  "number": "28",
  "heading": "Variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 7 to the Act",
  "text": "(1) Regulation 29 applies to a scheme if—\n(a) an assessment period in relation to the scheme begins on or after 24th February 2018; and\n(b) under the admissible rules of the scheme, immediately before the assessment date a person (“the member”) is entitled, or has accrued rights or pension credit rights, to a pension (“the step-down pension”), the annual rate of which would (had no assessment period begun in relation to the scheme and the rules remained unchanged) have decreased on a date (“the scheme decrease date”) that falls on or after that assessment date.\n(2) In this regulation and in regulation 29, in relation to the step-down pension—\n(a) subject to paragraph (3)—\n“the basic element” means the portion of the annual rate of the step-down pension to which the member was, or would have been, entitled for life under the admissible rules of the scheme; and\n“the bridging element” means the portion of the annual rate of the step-down pension to which the member was, or would have been, entitled only until the scheme decrease date under the admissible rules of the scheme; and\n(b) “the PPF bridging end date” means—\n(i) in a case to which paragraph (4) applies, the date determined in accordance with that paragraph;\n(ii) in a case to which paragraph (5) applies, the date determined by the Board in accordance with that paragraph; and\n(iii) in any other case, the day before the scheme decrease date.\n(3) In any case where the Board is satisfied that it is not possible to identify the portions of the annual rate of the step-down pension which constitute the basic element and the bridging element, the Board may, having regard to the admissible rules of the scheme, treat the basic element and the bridging element as meaning such respective portions of the annual rate of the step-down pension as it considers appropriate.\n(4) In any case where—\n(a) the scheme decrease date would, under the admissible rules of the scheme, have been determined by reference to an enactment as in force at a particular time; and\n(b) that time falls after the assessment date,\nthe PPF bridging end date is the day before what would have been the scheme decrease date, if it were determined by reference to the enactment as in force on the assessment date.\n(5) In any case where the Board is satisfied that it is not possible to identify the scheme decrease date, the Board may, having regard to the admissible rules of the scheme, determine the PPF bridging end date in such manner as it considers appropriate.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 12 inserted (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations 2018 (S.I. 2018/95), regs. 1, 2(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/670/regulation/28",
    "retrieved_at": "2026-10-29T05:04:17.207561+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}