(1) Where immediately before the assessment date the admissible rules of the scheme do not provide for any revaluation of the benefits payable to or in respect of any member, Schedule 6 shall be modified in its application to that scheme in accordance with this regulation.

(2) Paragraph 11 (active members who have not attained normal pension age at assessment date: periodic compensation) shall apply to that scheme as if for sub-paragraph (4) there were substituted—

(4) In sub-paragraph (3) “the protected notional pension” means the accrued amount.

(3) Paragraph 14 (active members who have not attained normal pension age at assessment date: lump sum compensation) shall apply to that scheme as if—

(a) for sub-paragraph (4) there were substituted—

(4) In sub-paragraph (3) “the protected amount” means the accrued amount.

, and

(b) sub-paragraph (8) were omitted.

(4) Paragraph 15 (deferred members who have not attained normal pension age at assessment date: periodic compensation) shall apply to that scheme as if for sub-paragraph (4) there were substituted—

(4) In sub-paragraph (3) “the protected pension rate” means the accrued amount.

(5) Paragraph 19 (deferred members who have not attained normal pension age at assessment date: lump sum compensation) shall apply to that scheme as if—

(a) for sub-paragraph (4) there were substituted—

(4) In sub-paragraph (3) “the protected amount” means the accrued amount.

, and

(b) sub-paragraph (6) were omitted.

(6) Schedule 6 shall apply to that scheme as if paragraphs 12, 16, 17 and 21(2)(b) and (f) were omitted.

PART11 — CAREER AVERAGE REVALUED EARNINGS SCHEMES

Career average revalued earnings schemes: modification of paragraphs 8, 10, 11 and 14 of Schedule 6

24

(1) This regulation applies to a career average revalued earnings scheme, that is to say an occupational pension scheme where the whole of the pension entitlement is determined by reference to the member’s earnings in each year of pensionable service, and where those earnings, or a proportion of those earnings accrued as a pension, may be revalued each year until the member attains normal pension age or the pension is put into payment.

(2) In their application to a career average revalued earnings scheme, paragraphs 8 and 11 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (5) of those paragraphs there were substituted—

(5) Subject to sub-paragraph (5A), the accrued amount means an amount equal to such initial annual rate of pension to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to the pension ended. (5A) In any case where the Board is satisfied that it is not possible to identify the initial annual rate of pension in sub-paragraph (5), the Board may, having regard to the admissible rules, determine the accrued amount.

, and

(b) as if sub-paragraphs (6) and (7) of those paragraphs were omitted.

(3) In their application to a career average revalued earnings scheme, paragraph 10 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (4) there were substituted—

(4) Subject to sub-paragraph (4A), the accrued amount means an amount equal to such amount of scheme lump sum to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to the scheme lump sum ended. (4A) In any case where the Board is satisfied that it is not possible to identify the amount of scheme lump sum in sub-paragraph (4), the Board may, having regard to the admissible rules, determine the accrued amount.

, and

(b) as if sub-paragraphs (5) and (6) were omitted.

(4) In their application to a career average revalued earnings scheme, paragraph 14 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (5) there were substituted—

(5) Subject to paragraph (5A), the accrued amount means an amount equal to such amount of scheme lump sum to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to the scheme lump sum ended. (5A) In any case where the Board is satisfied that it is not possible to identify the amount of scheme lump sum in sub-paragraph (5), the Board may, having regard to the admissible rules, determine the accrued amount.

, and

(b) as if sub-paragraphs (6) and (7) were omitted.

Schemes where part of pension entitlement is determined on a career average revalued earnings basis: modification of paragraphs 8, 10, 11 and 14 of Schedule 6

25

(1) This regulation applies to an occupational pension scheme where part of the pension entitlement is determined on a career average revalued earnings basis, that is to say by reference to the member’s earnings in each year of pensionable service applicable to that part, and where those earnings, or a proportion of those earnings accrued as a pension, may be revalued each year until the member attains normal pension age or the pension is put into payment.

(2) In their application to a scheme where part of the pension entitlement is determined on a career average revalued earnings basis, paragraphs 8 and 11 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (5) of those paragraphs there were substituted—

(5) Subject to sub-paragraphs (6) and (7), the accrued amount is— $$X+Y$where—X is an amount equal to such initial annual rate of that part of the pension which is determined on a career average revalued earnings basis to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to that part of the pension ended, or in any case where the Board is satisfied that it is not possible to identify the initial annual rate of pension, such amount as the Board may determine, having regard to the admissible rules, andY is AR x PE x PS.$ (5A) In sub-paragraph (5)— - “AR” is the active member’s annual accrual rate, under the admissible rules, in respect of that part of the pension which is not determined on a career average revalued earnings basis, - “PE” is the active member’s annual pensionable earnings, under the admissible rules, in respect of that part of the pension which is not determined on a career average revalued earnings basis, and - “PS” is the active member’s pensionable service, under the admissible rules, in years (including any fraction of a year) in respect of that part of the pension which is not determined on a career average revalued earnings basis.

(b) as if in sub-paragraph (6) of those paragraphs—

(i) for “the pension” there were substituted “that part of the pension which is not determined on a career average revalued earnings basis”;

(ii) after “formula” there were inserted “Y is AR x PE x PS”, and

(iii) for “the accrued amount” there were substituted “Y”, and

(i) after “formula” there were inserted “Y is AR x PE x PS”, and

(ii) for “the accrued amount” there were substituted “Y”.

(3) In their application to a scheme where part of the pension entitlement is determined on a career average revalued earnings basis, paragraph 10 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (4) there were substituted—

(4) Subject to sub-paragraphs (5) and (6), the accrued amount is— $$X+Y$where—X is an amount equal to such amount of the scheme lump sum that relates to that part of the pension which is determined on a career average revalued earnings basis, to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to that scheme lump sum ended, or in any case where the Board is satisfied that it is not possible to identify the amount of scheme lump sum, such amount as the Board may determine, having regard to the admissible rules, andY is AR x PE x PS.$ (4A) In sub-paragraph (4)— - “AR” is the active member’s annual accrual rate, under the admissible rules, in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis, - “PE” is the active member’s annual pensionable earnings, under the admissible rules, in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis, and - “PS” is the active member’s pensionable service, under the admissible rules, in years (including any fraction of a year) in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis.

(b) as if in sub-paragraph (5)—

(i) after “the scheme lump sum” there were inserted “that relates to that part of the pension which is not determined on a career average revalued earnings basis”;

(ii) after “formula” there were inserted “Y is AR x PE x PS”, and

(iii) for “the accrued amount” there were substituted “Y”, and

(i) after “formula” there were inserted “Y is AR x PE x PS”, and

(ii) for “the accrued amount” there were substituted “Y”.

(4) In their application to a scheme where part of the pension entitlement is determined on a career average revalued earnings basis, paragraph 14 of Schedule 6 shall have effect with the following modifications—

(a) as if for sub-paragraph (5) there were substituted—

(5) Subject to sub-paragraphs (6) and (7), the accrued amount is— $$X+Y$where—X is an amount equal to such amount of the scheme lump sum that relates to that part of the pension which is determined on a career average revalued earnings basis, to which the member would have been entitled under the admissible rules had the member attained normal pension age when the pensionable service relating to that scheme lump sum ended, or in any case where the Board is satisfied that it is not possible to identify the amount of scheme lump sum, such amount as the Board may determine, having regard to the admissible rules, andY is AR x PE x PS.$ (5A) In sub-paragraph (5)— - “AR” is the active member’s annual accrual rate, under the admissible rules, in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis, - “PE” is the active member’s annual pensionable earnings, under the admissible rules, in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis, and - “PS” is the active member’s pensionable service, under the admissible rules, in years (including any fraction of a year) in respect of the scheme lump sum that relates to that part of the pension which is not determined on a career average revalued earnings basis.

(b) as if in sub-paragraph (6)—

(i) after “the scheme lump sum” there were inserted “that relates to that part of the pension which is not determined on a career average revalued earnings basis”;

(ii) after “formula” there were inserted “Y is AR x PE x PS”, and

(iii) for “the accrued amount” there were substituted “Y”, and

(i) after “formula” there were inserted “Y is AR x PE x PS”, and

(ii) for “the accrued amount” there were substituted “Y”.

PART2A — Postponement of compensation

Postponing compensation

2A

(1) A person who becomes entitled to periodic compensation under paragraph 5, 8, 11 or 15 of Schedule 6, or by virtue of paragraph 21 or 21A of Schedule 6, may elect to postpone the commencement of periodic compensation under that paragraph—

(a) in any of the circumstances prescribed in regulation 2B, and

(b) subject to all of the conditions prescribed in regulation 2C.

(2) A person who becomes entitled to lump sum compensation under paragraph 7, 10, 14 or 19 of Schedule 6, or by virtue of paragraph 21 or 21A of Schedule 6, may elect to postpone the payment of lump sum compensation under that paragraph—

(a) in any of the circumstances prescribed in regulation 2B, and

(b) subject to all of the conditions prescribed in regulation 2C.

Circumstances in which periodic and lump sum compensation can be postponed

2B

(1) The circumstances referred to in regulation 2A(1)(a) and (2)(a) are as follows.

(2) The first circumstance is where the person has—

(a) not attained normal pension age, or

(b) not attained normal benefit age,

on the date when an assessment period begins in relation to the scheme.

(3) The second circumstance is where the person—

(a) has not received any pension (including any lump sum entitlement) under the scheme;

(b) is an active member, and

on the date when an assessment period begins in relation to the scheme.

(4) The third circumstance is where—

(a) the person has had his pension payment postponed, and

(b) the payment of that pension remains postponed,

on the date of the transfer notice issued under Article 144 to trustees or managers of the scheme.

Conditions subject to which periodic and lump sum compensation can be postponed

2C

(1) The conditions referred to in regulation 2A(1)(b) and (2)(b) are as follows.

(2) The first condition is that—

(a) where the person elects to postpone periodic compensation in respect of a benefit under the scheme, the person must also elect to postpone the payment of any lump sum compensation to which the person is entitled in respect of that scheme, or

(b) where the person elects to postpone lump sum compensation in respect of a benefit under the scheme, the person must also elect to postpone the payment of any periodic compensation to which the person is entitled in respect of that scheme.

(3) The second condition is that the person must not have received or be receiving—

(a) his pension (including any lump sum entitlement) under the scheme;

(b) any periodic compensation in respect of his rights under the scheme, or

(4) The third condition is that for each election to postpone periodic compensation or lump sum compensation, the person has sent written notice to the Board—

(a) in accordance with paragraph (5);

(b) that the person wishes to postpone the commencement of periodic compensation or payment of lump sum compensation, and

(4A) The fourth condition is that where regulation 27 applies to the scheme and the person elects to postpone any periodic compensation in respect of a pension which falls within regulation 26(1)(b), the person must—

(a) elect to postpone both the compensation in respect of the basic element and that in respect of the bridging element, and

(b) specify the same date in relation to both for the purposes of paragraph (5)(c).

(5) The notice referred to in paragraph (4) must include—

(a) the person’s name, address, date of birth and national insurance number;

(b) the name of the scheme for which the Board has assumed responsibility, and

(c) the date on which the person would like the commencement of periodic compensation or payment of lump sum compensation to cease to be postponed, which must be a date before the person attains the age of 75.

Date on which postponement ceases

2D

(1) Periodic compensation and lump sum compensation ceases to be postponed on the date elected under regulation 2C(5)(c) unless the person has further elected an earlier date or a later date (which must be a date before the person attains the age of 75).

(2) A person who wishes to make a further election under this regulation must send a written notice to the Board before the date notified (or most recently notified) under regulation 2C(5)(c).

(3) The notice referred to in paragraph (2) must include the information set out in regulation 2C(5).

Active members below normal pension age: cases where it is unclear whether pensionable service is attributable to periods on or after 6th April 2009

12A

(1) This regulation applies for the purposes of paragraph 12(3A)(b) of Schedule 6 to the Order in the case of active members who have not attained normal pension age at the assessment date.

(2) Where this regulation applies, in any case where it is unclear whether any particular pensionable service (either actual or notional) falls, or is to be treated for the purposes of the scheme as falling, on or after 6thApril 2009, the Board may determine as best as it is able, having regard to the admissible rules and all the circumstances of the case, how much of the service or notional service concerned should be treated for the purposes of paragraph 12(3)(b) of Schedule 6 to the Order as having occurred on or after 6thApril 2009.

Manner of determining the revaluation amount

Deferred members below normal pension age: cases where it is unclear whether pensionable service is attributable to periods on or after 6th April 2009

13ZA

(1) This regulation applies where it is unclear whether—

(a) pensionable service is attributable to periods before, or on or after 6th April 2009, in the case of deferred members and pension credit members who have not attained normal pension age or normal benefit age at the assessment date;

(b) any particular pensionable service (whether actual or notional) falls, or is to be treated as falling, for the purposes of the scheme, on or after 6thApril 2009, or

(c) pension credit rights are to be treated for the purposes of the scheme as derived from rights attributable to pensionable service of the transferor (whether actual or notional) falling or to be treated as falling on or after 6thApril 2009.

(2) Where this regulation applies, the Board may determine as best as it is able, having regard to the admissible rules and all the circumstances of the case, how much of the service or notional service concerned should be treated for the purposes of paragraph 17(3)(b) of Schedule 6 to the Order as having occurred on or after 6thApril 2009.

Modification of Schedule 6 in relation to schemes with no revaluation

Cash balance schemes: modification of Schedule 6

23A

(1) In its application to a cash balance scheme, paragraph 37 of Schedule 6 applies as if, after sub-paragraph (4) there were inserted—

(5) In this Schedule references to a lump sum to which a person is entitled, or which a person has been paid, by reason of commuting part of a pension under the scheme include any lump sum to which the person is entitled, or which the person has been paid, by reason of opting to receive a lump sum instead of a pension, or part of a pension, in respect of cash balance benefits under the scheme.

(2) In its application to a cash balance scheme other than a scheme to which regulation 23 applies, paragraph 37(1) of Schedule 6 applies as if, before the definition of “deferred member” there were inserted—

“cash balance benefit” has the meaning given by regulation 2 of the Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014;

PART12 — Variable-rate schemes

Variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 6

26

(1) Regulation 27 applies to a scheme if—

(a) an assessment period in relation to the scheme begins on or after 24th February 2018, and

(b) under the admissible rules of the scheme, immediately before the assessment date a person (“the member”) is entitled, or has accrued rights or pension credit rights, to a pension (“the step-down pension”), the annual rate of which would (had no assessment period begun in relation to the scheme and the rules remained unchanged) have decreased on a date (“the scheme decrease date”) that falls on or after that assessment date.

(2) In this regulation and in regulation 27, in relation to the step-down pension —

(a) subject to paragraph (3)—

“the basic element” means the portion of the annual rate of the step-down pension to which the member was, or would have been, entitled for life under the admissible rules of the scheme, and

“the bridging element” means the portion of the annual rate of the step-down pension to which the member was, or would have been, entitled only until the scheme decrease date under the admissible rules of the scheme, and“the PPF bridging end date” means—in a case to which paragraph (4) applies, the date determined in accordance with that paragraph;in a case to which paragraph (5) applies, the date determined by the Board in accordance with that paragraph, andin any other case, the day before the scheme decrease date.

(3) In any case where the Board is satisfied that it is not possible to identify the portions of the annual rate of the step-down pension which constitute the basic element and the bridging element, the Board may, having regard to the admissible rules of the scheme, treat the basic element and the bridging element as meaning such respective portions of the annual rate of the step-down pension as it considers appropriate.

(4) In any case where—

(a) the scheme decrease date would, under the admissible rules of the scheme, have been determined by reference to an enactment as in operation at a particular time, and

(b) that time falls after the assessment date,

the PPF bridging end date is the day before what would have been the scheme decrease date, if it were determined by reference to the enactment as in operation on the assessment date.

(5) In any case where the Board is satisfied that it is not possible to identify the scheme decrease date, the Board may, having regard to the admissible rules of the scheme, determine the PPF bridging end date in such manner as it considers appropriate.

27

(1) In this regulation “the member” and “the step-down pension” have the same meanings as in regulation 26.

(2) Schedule 6 has effect with the following modifications in relation to a scheme to which this regulation applies.

(3) Schedule 6 (apart from paragraph 33) and any regulations made under it (apart from regulation 26 and this regulation) have effect as if the basic element and the bridging element of the step-down pension were separate pensions.

(4) Where compensation is payable under paragraph 3 of Schedule 6 (pensions in payment at assessment date) in respect of the step-down pension, sub-paragraph (2) of that paragraph has effect in its application to the bridging element as if for the words from “for life” to the end there were substituted—

until the earliest of— (a) the date of the pensioner’s death, (b) the PPF bridging end date, and (c) in a case to which sub-paragraph (8) applies, the date on which entitlement to the pension would have ceased under the admissible rules.

(5) Where compensation is payable under paragraph 5 of Schedule 6 (pension benefits postponed at assessment date) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) at the beginning there were inserted “Subject to sub-paragraph (2A),”, and

(ii) for the words from “for life” to the end there were substituted—

until the earliest of— (a) the date of the postponed pensioner’s death, (b) the PPF bridging end date, and (c) in a case to which sub-paragraph (7) applies, the date on which entitlement to the pension would have ceased under the admissible rules.

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if, on the PPF bridging end date— (a) the commencement of periodic compensation in respect of the pension has been postponed by virtue of paragraph 25A, and (b) that postponement has not ceased.

, and

(i) at the end of paragraph (a) there were inserted “and”, and

(ii) paragraph (aa) were omitted.

(6) Where compensation is payable under paragraph 8 (active members over normal pension age at assessment date), 11 (active members who have not attained normal pension age at assessment date) or 15 (deferred members who have not attained normal pension age at assessment date) of Schedule 6 in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) at the beginning there were inserted “Subject to sub-paragraph (2A),”, and

(ii) for “for life” there were substituted “until the earlier of the date of his death and the PPF bridging end date”;

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if, on the PPF bridging end date— (a) the commencement of periodic compensation in respect of the pension has been postponed by virtue of paragraph 25A, and (b) that postponement has not ceased.

, and

(i) at the end of paragraph (a) there were inserted “and”, and

(ii) paragraph (aa) were omitted.

(7) Where the commencement of compensation under paragraph 5, 8, 11 or 15 of Schedule 6 in respect of the bridging element of the step-down pension is postponed by virtue of paragraph 25A of that Schedule (postponement of compensation), paragraph 25A has effect in relation to that compensation as if sub-paragraphs (2) and (3) were omitted.

(8) Where the annual value of the bridging element of the step-down pension falls to be determined under paragraph 26(6) of Schedule 6 (compensation cap) for the purpose of determining the periodic compensation payable to the member, or to another person in respect of the member, paragraph 26 has effect as if—

(a) in sub-paragraph (6)—

(i) at the end of each of paragraphs (a), (b), (d) and (f), and

(ii) in paragraph (c)(i), after “paragraph 3(3)(a)”,

there were inserted “, actuarially reduced in accordance with sub-paragraph (8A)”, and

(b) after sub-paragraph (8) there were inserted—

(8A) The Board must determine the amount of the actuarial reduction to be applied under sub-paragraph (6) having regard to the length of the period beginning with the date on which entitlement to compensation in respect of the benefit commences and ending with the PPF bridging end date.

(9) Where compensation is payable under paragraph 4 of Schedule 6 (pensions in payment at assessment date – compensation for survivors) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if in sub-paragraph (2) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the PPF bridging end date”.

(10) Where compensation is payable under paragraph 6 of Schedule 6 (pension benefits postponed at assessment date – compensation for survivors) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) for “sub-paragraph (4)” there were substituted “sub-paragraphs (2A) and (4)”, and

(ii) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the PPF bridging end date”;

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if the postponed pensioner dies on or after the PPF bridging end date.

, and

(11) Where compensation is payable under paragraph 9 of Schedule 6 (active members over normal pension age at assessment date – compensation for survivors) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) for “sub-paragraph (4)” there were substituted “sub-paragraphs (2A) and (4)”, and

(ii) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the PPF bridging end date”;

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if the active member dies on or after the PPF bridging end date.

, and

(12) Where the member dies after attaining normal pension age and compensation is payable under paragraph 13 of Schedule 6 (active members who have not attained normal pension age at assessment date – compensation for survivors) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) for “sub-paragraph (4)” there were substituted “sub-paragraphs (2A) and (4)”, and

(ii) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the PPF bridging end date”;

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if the active member dies on or after the PPF bridging end date.

, and

(13) Where the member dies after attaining normal pension age and compensation is payable under paragraph 18 of Schedule 6 (deferred members who have not attained normal pension age at assessment date – compensation for survivors) in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(a) in sub-paragraph (2)—

(i) for “sub-paragraph (4)” there were substituted “sub-paragraphs (2A) and (4)”, and

(ii) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the PPF bridging end date”;

(b) after sub-paragraph (2) there were inserted—

(2A) No compensation is payable under this paragraph in respect of the pension if the deferred member dies on or after the PPF bridging end date.

, and

(14) Where the member dies before attaining normal pension age—

(a) if compensation is payable under paragraph 13 of Schedule 6 in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(i) in sub-paragraph (2) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the date specified in sub-paragraph (2A)”, and

(ii) after sub-paragraph (2) there were inserted—

(2A) The date specified for the purposes of sub-paragraph (2) is— (a) where, by virtue of paragraph 25 (early payment of compensation), the active member became entitled to compensation under paragraph 11 in respect of the pension before the date of the active member’s death, the PPF bridging end date, and (b) in any other case, the last day of the period which begins with the day following the active member’s death and is equal in length to the period— (i) beginning with the day on which the active member would have attained normal pension age, and (ii) ending with the PPF bridging end date.

, and

(b) if compensation is payable under paragraph 18 of Schedule 6 in respect of the step-down pension, that paragraph has effect in its application to the bridging element as if—

(i) in sub-paragraph (2) for “for life” there were substituted “until the earlier of the date of the widow’s or widower’s death and the date specified in sub- paragraph (2A)”, and

(ii) after sub-paragraph (2) there were inserted—

(2A) The date specified for the purposes of sub-paragraph (2) is— (a) where, by virtue of paragraph 25 (early payment of compensation), the deferred member became entitled to compensation under paragraph 15 in respect of the pension before the date of the deferred member’s death, the PPF bridging end date, and (b) in any other case, the last day of the period which begins with the day following the deferred member’s death and is equal in length to the period— (i) beginning with the day on which the deferred member would have attained normal pension age, and (ii) ending with the PPF bridging end date.

(15) Paragraph 37(1) of Schedule 6 (other definitions) has effect as if after the definition of “pension credit rights” there were inserted—

“the PPF bridging end date” has the meaning given by regulation 26(2)(b) of the Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005 (variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 6);

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