The Pension Protection Fund (Compensation) Regulations 2005

• (11) Where compensation is payable under paragraph 9 of Schedule 7 (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

• (c) in sub-paragraph (3) “any actuarial increase under paragraph 25A and” were omitted.

• (12) Where the member dies after attaining normal pension age and compensation is payable under paragraph 13 of Schedule 7 (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

• (c) in sub-paragraph (3)(a) “any actuarial increase under paragraph 25A and” were omitted.

• (13) Where the member dies after attaining normal pension age and compensation is payable under paragraph 18 of Schedule 7 (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

• (c) in sub-paragraph (3)(a) “any actuarial increase under paragraph 25A and” were omitted.

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

• (a) if compensation is payable under paragraph 13 of Schedule 7 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 7 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 7 (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 28(2)(b) of the Pension Protection Fund (Compensation) Regulations 2005 (variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 7 to the Act);