Part 3 Transferee Attains Pension Compensation Age After Transfer Day
Pensions Act 2008 (2008 c 30) | Legislation

Part 3 Transferee Attains Pension Compensation Age After Transfer Day

Compensation payable to transferee

6

(1)     Compensation is payable in accordance with this paragraph where the transferee attains pension compensation age after the transfer day.

(2)     The transferee is entitled to periodic compensation commencing at that age and continuing for life.

(3)     The annual rate of the periodic compensation is the aggregate of—

(a)     the initial annual rate of compensation,

(b)     the revaluation amount (see paragraph 8), .Ìý.Ìý.

[(ba)     if the commencement of periodic compensation under this paragraph has been postponed for any period by virtue of paragraph 16A, the amount of the actuarial increase under that paragraph, and]

(c)     any increases under paragraph 17 (annual increases in periodic compensation).

(4)     This paragraph is subject to—

paragraph 9 (commutation),

paragraph 10 (early payment),

.Ìý.Ìý.

paragraph 15 (terminal illness lump sum), .Ìý.Ìý.

[paragraph 16A (postponement of compensation), and]

paragraph 18 (compensation cap).

Compensation payable to widow, widower or surviving civil partner

7

(1)     This paragraph applies where—

(a)     the transferee dies after liability in respect of the pension compensation credit has been discharged under section 116,

(b)     the transferee—

(i)     was, before death, entitled under

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