sec.11Effect of order on pension benefits

### sec.11 Effect of order on pension benefits This section applies if an order under section 7 (2) is made against a person who is receiving superannuation or retirement benefits (the benefits ) that accrued in relation to the period of the person’s employment in which the person was engaged when the person committed the prescribed offence concerned and the benefits are received as pension. The person’s entitlement to future payments of pension ceases. The trustees of the superannuation scheme under which the benefits were payable must immediately cause the commutation value of the benefits to be assessed (the lump sum amount ), as at the date of the order, in accordance with actuarial principles. For the purposes of making an assessment under subsection (3) , section 4 (5) (b) applies as if the reference in the paragraph to the date of retirement or cessation of employment of the person concerned were a reference to the date of the order. The person is entitled to the lump sum amount plus interest on the amount for the prescribed period (the commuted entitlement ) instead of the benefits mentioned in subsection (3) . The amount of the person’s liability under the order plus interest on the amount for the prescribed period (the liability ) is a charge on the commuted entitlement in the hands of the trustees. The trustees must— pay the amount of the liability to the extent the amount of the commuted entitlement permits; and commute the balance (if any) of the commuted entitlement in accordance with section 11A or 11B . Section 9 (1) must be disregarded in interpreting this section, but the subsection applies to the amount of liability of the convicted person so far as the amount exceeds the amount of the commuted entitlement. In this section— prescribed period means the period starting on the day on which the order was made and ending on the day on which a payment is made under subsection (7) (a) . s 11 sub 1993 No. 44 s 6 amd 1997 No. 21 s 32 ; 2000 No. 52 s 31 (sec.11-ssec.1) This section applies if an order under section 7 (2) is made against a person who is receiving superannuation or retirement benefits (the benefits ) that accrued in relation to the period of the person’s employment in which the person was engaged when the person committed the prescribed offence concerned and the benefits are received as pension. (sec.11-ssec.2) The person’s entitlement to future payments of pension ceases. (sec.11-ssec.3) The trustees of the superannuation scheme under which the benefits were payable must immediately cause the commutation value of the benefits to be assessed (the lump sum amount ), as at the date of the order, in accordance with actuarial principles. (sec.11-ssec.4) For the purposes of making an assessment under subsection (3) , section 4 (5) (b) applies as if the reference in the paragraph to the date of retirement or cessation of employment of the person concerned were a reference to the date of the order. (sec.11-ssec.5) The person is entitled to the lump sum amount plus interest on the amount for the prescribed period (the commuted entitlement ) instead of the benefits mentioned in subsection (3) . (sec.11-ssec.6) The amount of the person’s liability under the order plus interest on the amount for the prescribed period (the liability ) is a charge on the commuted entitlement in the hands of the trustees. (sec.11-ssec.7) The trustees must— pay the amount of the liability to the extent the amount of the commuted entitlement permits; and commute the balance (if any) of the commuted entitlement in accordance with section 11A or 11B . (sec.11-ssec.8) Section 9 (1) must be disregarded in interpreting this section, but the subsection applies to the amount of liability of the convicted person so far as the amount exceeds the amount of the commuted entitlement. (sec.11-ssec.9) In this section— prescribed period means the period starting on the day on which the order was made and ending on the day on which a payment is made under subsection (7) (a) . - (a) pay the amount of the liability to the extent the amount of the commuted entitlement permits; and - (b) commute the balance (if any) of the commuted entitlement in accordance with section 11A or 11B .