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Schedule 7 Pension compensation provisionsC1C2C3C4C5C6C7C8C9C10C11

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  1. Introductory
  2. Pensions in payment at assessment date
  3. Pension benefits postponed at assessment date
  4. Active members over normal pension age at assessment date
  5. Active members who have not attained normal pension age at assessment date
  6. Deferred members who have not attained normal pension age at assessment date
  7. Compensation in respect of scheme right to transfer payment or contribution refund
  8. Pension credit members who have not attained normal benefit age at assessment date
  9. Survivors who do not meet conditions for scheme benefits at assessment date
  10. Calculation of compensation on and after 1 January 2024
  11. Compensation in form of dependants' benefits
  12. Effect of discharge of liability during or immediately before assessment period
  13. Commutation of periodic compensation
  14. Early payment of compensation
  15. Postponement of compensation
  16. Terminal illness lump sum: eligibility
  17. Terminal illness lump sum: application
  18. Terminal illness lump sum: determination of application
  19. Terminal illness lump sum: effect of successful application
  20. Terminal illness lump sum: information
  21. Compensation cap
  22. Increasing the compensation cap in line with earnings
  23. Annual increase in periodic compensation
  24. Board’s powers to alter rates of revaluation and indexation
  25. Secretary of State’s powers to vary percentage paid as compensation
  26. Special provision in relation to certain pensions in payment before the assessment date
  27. Short periods of service which terminate on commencement of assessment period
  28. Power to modify Schedule in its application to certain schemes
  29. Normal pension age
  30. Scheme rules, admissible rules etc
  31. Accrual rate, pensionable service and pensionable earnings
  32. Other definitions

Annotations

Modifications

C1

Sch. 7 amendment to earlier affecting provision S.I. 2005/652, reg. 14(2) (1.4.2005) by The Occupational Pension Schemes and Pension Protection Fund (Amendment) Regulations 2005 (S.I. 2005/993), regs. 1(1), 7

C2

Sch. 7 modified (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 15

C3

Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 14(2)

C4

Sch. 7 modified (6.4.2005) by The Pension Protection Fund (Compensation) Regulations 2005 (S.I. 2005/670), regs. 1(1), 12 (with reg. 23(3))

C5

Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Hybrid Schemes) (Modification) Regulations 2005 (S.I. 2005/449), regs. 1(1), 3(2)-(4)

C6

Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 13(1)

C7

Sch. 7 modified (1.8.2006) by The Pension Protection Fund (Pension Sharing) Regulations 2006 (S.I. 2006/1690), regs. 1(1), 3

C8

Sch. 7 applied (24.7.2014) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1)); coming into force immediately after s. 29 of 2011 c. 19 - see S.I. 2014/1683, art. 2

C9

Sch. 7 applied (24.7.2014 immediately after 2011 c. 19, s. 29, see S.I. 2014/1683, art. 2) by The Pensions Act 2011 (Transitional, Consequential and Supplementary Provisions) Regulations 2014 (S.I. 2014/1711), regs. 1(1), 42(1), 53, 57 (with regs. 6, 41, 44(1), 47(1), 69(2), 72(1), 76(1))

C10

Sch. 7 modified by S.I. 2005/670, reg. 29 (as inserted in Pt. 12 of S.I. 2005/670 by S.I. 2018/95, reg. 2(6)) (24.2.2018) by The Pension Protection Fund (Compensation) (Amendment) Regulations 2018 (S.I. 2018/95), regs. 1, 2(6)

C11

Sch. 7 modified by S.I. 2005/670, reg. 30 (as inserted (for specified purposes and with effect in accordance with reg. 30(3)-(5) of the amending S.I.) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (S.I. 2018/988), regs. 1(2)(b), 2(3))