163 Adjustments to be made where the Board assumes responsibility for a scheme
Pensions Act 2004 (2004 c 35) | Legislation

163  Adjustments to be made where the Board assumes responsibility for a scheme

(1)     This section applies where the Board assumes responsibility for an eligible scheme in accordance with this Chapter.

(2)     Any benefits (other than money purchase benefits) which—

(a)     were payable under the scheme rules to any member, or to any person in respect of any member, during the period beginning with the assessment date and ending with the receipt by the trustees or managers of the transfer notice, and

(b)     have been paid before the trustees or managers receive the transfer notice,

are to be regarded as going towards discharging any liability of the Board to pay compensation to

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