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Regulation 2 Circumstances where a person shall be entitled to early payment of compensationI1

Northern Ireland

(1)

The conditions subject to which a person may become entitled to –

(a)

periodic compensation under paragraph 11 or 15, or

(b)

lump sum compensation under paragraph 14 or 19,

of Schedule 6 before he attains normal pension age are those prescribed in the following paragraphs of this regulation.

(2)

Those conditions are –

(a)

that the person has given notice to the Board, in accordance with paragraph (3), that he wishes to receive that compensation before he attains normal pension F1age;

F2(b)

that on the date on which the compensation is to become payable early the person has attained—

(i)

except in a case to which head (ii) applies, normal minimum pension age as defined in section 279(1) of the 2004 Act;

(ii)

in a case where the person has a protected pension age of less than 50 by virtue of paragraph 22 of Schedule 36 to the 2004 Act (rights to take benefit before normal minimum pension age), the age of F350, and

F4(c)

where regulation 27 applies to the scheme and the notice referred to in sub-paragraph (a) relates, in whole or in part, to compensation in respect of a pension which falls within regulation 26(1)(b), that the notice—

(i)

relates to both the compensation in respect of the basic element and that in respect of the bridging element, and

(ii)

specifies the same date in relation to both for the purposes of paragraph (3)(a)(iii).

(3)

The notice referred to in paragraph (2)(a) –

(a)

must include –

(i)

the person’s name, address, date of birth and national insurance number;

F5(ii)

the name of the scheme for which the Board has assumed responsibility (“the relevant scheme”), and

(iii)

the date on which the person would like the compensation to become payable early F6, and ;

(b)

must not be given before the date on which the Board assumes responsibility for the relevant F7scheme.

F8(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Words in reg. 2(2)(a) substituted (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations (Northern Ireland) 2018 (S.R. 2018/26), regs. 1, 2(3)(a)

F2

Reg. 2(2)(b) substituted (6.4.2016) by The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2016 (S.R. 2016/165), regs. 1, 4(3)

F3

Words in reg. 2(2)(b)(ii) substituted (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations (Northern Ireland) 2018 (S.R. 2018/26), regs. 1, 2(3)(b)

F4

Reg. 2(2)(c) added (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations (Northern Ireland) 2018 (S.R. 2018/26), regs. 1, 2(3)(c)

F5

Reg. 2(3)(a)(ii) substituted (6.4.2010) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/80), regs. 1(b), 4(2)(b)(i)(aa)

F6

Words in reg. 2(3)(a)(iii) substituted (6.4.2010) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/80), regs. 1(b), 4(2)(b)(i)(bb)

F7

Words in reg. 2(3)(b) substituted (6.4.2010) by The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/80), regs. 1(b), 4(2)(b)(ii)

F8

Reg. 2(3)(c) omitted (6.4.2010) by virtue of The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/80), regs. 1(b), 4(2)(b)(iii)

F9

Reg. 2(4) omitted (6.4.2010) by virtue of The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2010 (S.R. 2010/80), regs. 1(b), 4(2)(c)

F10

Reg. 2(5) omitted (30.4.2013) by virtue of The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013 (S.R. 2013/95), regs. 1(2), 7(3)

Commencement

I1

Reg. 2 in operation at 6.4.2005, see reg. 1(1)