Section 55 — Social Security Contributions and Benefits Act 1992: Pension increase or lump sum where entitlement to retirement pension is deferred

Pension increase or lump sum where entitlement to retirement pension is deferred 55 1 Where a person’s entitlement to a Category A or Category B retirement pension is deferred, Schedule 5 to this Act has effect.

2 In that Schedule— paragraph A1 makes provision enabling an election to be made where the pensioner’s entitlement is deferred paragraphs 1 to 3 make provision about increasing pension where the pensioner’s entitlement is deferred paragraphs 3A and 3B make provision about lump sum payments where the pensioner’s entitlement is deferred paragraph 3C makes provision enabling an election to be made where the pensioner’s deceased spouse or civil partner has deferred entitlement paragraphs 4 to 7 make provision about increasing pension where the pensioner’s deceased spouse or civil partner has deferred entitlement paragraphs 7A and 7B make provision about lump sum payments where the pensioner’s deceased spouse or civil partner has deferred entitlement paragraphs 7C to 9 make supplementary provision.

3 For the purposes of this Act a person’s entitlement to a Category A or Category B retirement pension is deferred if and so long as that person—

a does not become entitled to that pension by reason only of not satisfying the conditions of section 1 of the Administration Act (entitlement to benefit dependent on claim), or b in consequence of an election under section 54(1), falls to be treated as not having become entitled to that pension, and, in relation to any such pension, “ period of deferment ” shall be construed accordingly.