Paragraph 29 I1C1C2C3C4C5
England, Wales and Scotland
The Board may determine what is to be the higher maximum revaluation rate or the lower maximum revaluation rate for the purposes of paragraphs 12(4) and 17(4), and where it does so the relevant definitions in paragraphs 12(5) and 17(5) do not apply.
F2The Board may also determine the percentage that is to be the appropriate percentage for the purposes of paragraph 28 (and where it does so the definition of “appropriate percentage” in paragraph 28(3) does not apply).
The Board may also determine the percentage that is to be—
the appropriate percentage for the purposes of sub-paragraphs (2C) and (2D) of paragraph 28;
the appropriate percentage for the purposes of sub-paragraph (2E) of that paragraph,
(and where it does so, the definition of “appropriate percentage” in paragraph 28(3) does not apply in relation to the sub-paragraph in question).
Before making a determination under this paragraph the Board must—
consult such persons as it considers appropriate, and
publish details of the proposed determination in such manner as it considers appropriate and consider any representations made in respect of it.
The rate determined under this paragraph may be nil.
A determination under this paragraph may be expressed so as to have effect for a limited period.
A determination under sub-paragraph (2)—
has effect in relation to future increases under paragraph 28 only, and
may be expressed to have effect—
in all cases (whether the entitlement to the periodic compensation first arose before or after the date the determination is made), or
only in cases where entitlement to the periodic compensation first arose on or after a date determined by the Board.
A determination under sub-paragraph (2) which has effect as mentioned in sub-paragraph (6)(b)(ii) may provide that, where the payment of periodic compensation to a person is postponed by virtue of paragraph 25A, the determination applies as if the person first becomes entitled to the periodic compensation on the day on which the periodic compensation commences.
Notice of any determination under this paragraph must be published in such manner as the Board considers appropriate.
Annotations
Textual amendments
- F1
Sch. 7 para. 29(1) substituted (6.4.2009) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 2 para. 7; S.I. 2009/809, art. 2(2)(b)
- F2
Sch. 7 para. 29(2) substituted (29.4.2026 for specified purposes) by Pension Schemes Act 2026 (c. 22), ss. 109(3), 133(1)(9)
- F3
Sch. 7 para. 29(6A) inserted (13.3.2013) by Pensions Act 2011 (c. 19), s. 38(4), Sch. 4 para. 28(1); S.I. 2013/585, art. 2(b)(ii)
Modifications
- C1
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
- C2
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)
- C3
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))
- C4
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)
- C5
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)
Commencement
- I1
Sch. 7 para. 29 in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7
Notes on Schedule 7
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
- 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))