| [s220][Para 45, Sch 10, FA 2005] |
Where the
pension credit rights consist entirely of rights
to a post-commencement pension in payment the appropriate amount
(APC) attributable to those rights is calculated in accordance with
section 29(1) of Welfare Reform and Pensions Act 1999 (WRPA 1999),
or Article 26(1) of Welfare Reform and Pensions (Northern Ireland)
Order 1999 (WRP(NI)O 1999).
Where a proportion of the pension credit rights are
attributable to a post-commencement pension in payment the
appropriate amount will be calculated in one of two ways, either
through
The first provisions apply where the pension credit right is
given as a percentage or a proportion of the donor’s pension
rights. In these cases, it will be clear what portion of the credit
is attributable to a post-commencement pension in payment, and it
will be this portion that is used in APC.
The second provisions apply where the pension credit right is
given as a specified amount, and so it may not be so clear what
part of the credit relates to a post-commencement pension in
payment. In these circumstances the credit is to be apportioned on
a just and reasonable basis, so that the proportion relating to the
donor’s post-commencement pensions in payment is used in
APC.
| Glossary ( RPSM20000000) |
