Section 162 — Pensions Act 2004: The pension compensation provisions

The pension compensation provisions 162 1 Schedule 7 makes provision for compensation to be paid in relation to a scheme for which the Board assumes responsibility in accordance with this Chapter, including provision for—

a periodic compensation to be paid to or in respect of members, b lump sum compensation to be paid to members, c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . and d annual increases to be made to periodic compensation.

2 In this Part references to the pension compensation provisions are to the provisions of, and the provisions made by virtue of, this section, sections 140 to 142, 161(2)(c), 164 and 168 and Schedule 7. (Those references do not include any provision of, or made by virtue of, section 170 (discharge of liabilities in respect of money purchase benefits).)