Section 169 — Pensions Act 2004: Discharge of liabilities in respect of compensation

Discharge of liabilities in respect of compensation 169 1 This section applies where the Board assumes responsibility for an eligible scheme in accordance with this Chapter.

2 The Board may provide for the discharge of any liability imposed by this Chapter to provide compensation—

a by the taking out of a policy of insurance or a number of such policies;

b by the entry into an annuity contract or a number of such contracts;

c by the transfer of the benefit of such a policy or policies or such a contract or contracts;

d in prescribed circumstances, by the payment of a cash sum calculated in the prescribed manner.