Part IVE+W+S Protection for early leavers

Chapter IIIE+W+S Protection of increases in guaranteed minimum pensions (“anti-franking”)

Modifications etc. (not altering text)

89 The appropriate addition.E+W+S

(1)For the purposes of this Chapter “appropriate addition” means—

(a)where a scheme provides that part of an earner’s or, as the case may be, a [F1widow's, widower’s or surviving civil partner's] pension shall accrue after the cessation date by reason of the earner’s employment after that date, an amount equal to the part which has so accrued; and

(b)where a scheme provides that an earner’s or, as the case may be, a [F2widow's, widower’s or surviving civil partner's] pension which has accrued before that date shall be enhanced after that date if payment of the earner’s pension is postponed, the amount by which the unguaranteed element of the pension has been enhanced by reason of the postponement.

(2)For the purposes of subsection (1)(b) the unguaranteed element of a pension is—

(a)in the case of an earner’s pension, the excess of the pension on the day after the cessation date over the earner’s guaranteed minimum on that day; and

(b)in the case of the [F3widow's, widower’s or surviving civil partner's] pension, the excess of that pension on that day over one half of the earner’s guaranteed minimum on that day.

Textual Amendments

Commencement Information

I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2