§ Amendments made: No. 119, in page 472, line 27, leave out from 'that' to end of line 38 and insert
'at the time when the annual rate of the individual's pension is increased there are at least 50 pensioner members of the pension scheme, and
- (b) all the scheme pensions being paid under the pension scheme to all the pensioner members of the pension scheme are at that time increased at the same rate.'.
§ No. 120, in page 473, line 2, leave out 'its previous rate' and insert
'the rate at which it was payable on the day on which the individual became entitled to it'.
§ No. 121, in page 473, line 6, leave out
'pension was first payable at the previous rate'
and insert
'individual became entitled to the pension'.
§ No. 122, in page 473, line 20, leave out
'first month in which the pension was payable at the previous rate'
and insert
'month in which the individual became entitled to the pension'.
§ No. 123, in page 473, line 30, leave out 'its previous rate' and insert
'the rate at which it was payable on the day on which the individual became entitled to it'.
§ No. 124, in page 473, line 38, leave out from 'is' to end of line 40 and insert
'(subject to sub-paragraph (2)) the amount by which—
- the increased annual rate of the pension, exceeds
- the rate at which it was payable on the day on which the individual became entitled to it, as increased by the permitted margin.
§ (2) But if one or more benefit crystallisation events has or have previously occurred by reason of the individual having become entitled to payment of the pension at an increased rate, XP does not include the amount crystallised by that event or the aggregate of the amounts crystallised by those events.'.
§ No. 125, in page 474, line 15, at end insert—
'Benefit crystallisation event 8: prevention of overlap with other events
- 18 (1) This paragraph applies for the purposes of benefit crystallisation event 8.
- (2) Where any of the sums or assets transferred represent the whole or part of the individual's unsecured pension fund, the amount crystallised by the event is to be reduced by the amount (or the appropriate proportion of the amount) previously crystallised on the designation of the sums or assets as available for the payment of unsecured pension.
- (3) Where after the transfer a scheme pension to which the individual has become entitled before the transfer is to be payable out of sums or assets transferred, the amount crystallised by the event is to be reduced by the amount (or the appropriate proportion of the amount) previously crystallised in relation to the scheme pension.'.—[Dawn Primarolo.]