# The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005, Regulation 17: Commutation of periodic compensation

Extent: N.I.

(1) The prescribed circumstances for the purposes of paragraph 24(1) of Schedule 6 (commutation of periodic compensation) are the circumstances specified in specified in paragraph (2) .
(2) The circumstances are that a person entitled to periodic compensation under paragraph 5, 8, 11 or 15 of Schedule 6 (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 6 within six months beginning with the date on which –
(i) the Board gives the trustees or managers of the scheme a transfer notice under Article 144(2) (transfer notice); or
(ii) payment of periodic compensation commences,
whichever is the later.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/nisr/2005/149/regulation/17 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-compensation-regulations-northern-ireland-2005/regulation-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.