# The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc) Regulations 2011, Regulation 28: Circumstances in which periodic compensation may be commuted


(1) The circumstances prescribed for the purposes of paragraph 9(1) (commutation) of Schedule 5 to the Act are specified in paragraph (2).
(2) The circumstances are that—
(a) the transferor must not have previously exercised an option to commute for a lump sum either—
(i) a portion of the pension from which the pension compensation credit was derived; or
(ii) a portion of the relevant pension compensation from which the pension compensation credit was derived;
(b) the transferee must not have previously exercised an option to commute for a lump sum a portion of the pension compensation credit in respect of which they are entitled to periodic compensation; and
(c) the transferee exercises the option to commute within the period of six months beginning with the day on which payment of periodic compensation commences.

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Source: https://www.legislation.gov.uk/uksi/2011/731/regulation/28 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-pension-compensation-sharing-and-attachment-on-divorce-etc-regulations-2011/regulation-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.