Regulation 43 Insertion of new paragraphs 41A to 41C of Schedule 3

After paragraph 41 of Schedule 3 insert—

“Calculation of a short-term surviving adult pension of a surviving adult of a transition member

41A.

(1)

This paragraph applies to a short-term surviving adult pension payment to a surviving adult of a transition member.

(2)

The short-term rate of surviving adult pension—

(a)

is payable under this scheme; but

(b)

is not payable under regulation 95 of the existing scheme regulations.

Long-term rate of a surviving adult pension of a surviving adult of a transition member

41B.

The long-term rate of a surviving adult pension of a surviving adult (S) of a transition member is the sum of—

(a)

the surviving adult pension under this scheme;

(b)

the adult pension under the existing scheme;

(c)

any enhancement to which S is entitled under regulation 145 of these Regulations; and

(d)

any enhancement to which S is entitled under Part 3 of Schedule 9 to the existing scheme regulations.

Reduction of surviving adult pension

41C.

(1)

This paragraph applies if the surviving adult (S) of a transition member applies—

(a)

for payment of a surviving adult pension under this scheme; and

(b)

for payment of an adult pension under the existing scheme.

(2)

The scheme manager may determine after taking advice from the scheme actuary that either or both of the following enhancements of surviving adult pension benefits are reduced—

(a)

S’s enhancement of a surviving adult pension under regulation 145 of these Regulations;

(b)

S’s enhancement of a surviving adult pension under Part 3 of Schedule 9 to the existing scheme regulations.”.