110PProductivity benefit

#### 110P Productivity benefit (1) Where a person: (a) ceases to be an eligible employee; and (b) was a productivity employee immediately before so ceasing or earlier; a productivity benefit becomes payable in respect of the person. (1A) If: (a) the person’s surcharge debt account is in debit when the productivity benefit becomes payable; and (b) the productivity benefit is to be paid to the person or preserved in a preservation fund; the amount of the benefit is equal to the difference between the amount of the accumulated employer contributions in respect of the person (basic amount) and: (c) if paragraphs (d) and (e) do not apply—the person’s surcharge deduction amount; or (d) if part of the person’s surcharge deduction amount has, under another provision of this Act, been deducted from a benefit payable to the person—the balance of the surcharge deduction amount; or (e) if the person’s surcharge deduction amount, or the balance of the surcharge deduction amount referred to in paragraph (d), is greater than the basic amount—so much of the surcharge deduction amount, or of the balance of the surcharge deduction amount, as is equal to the basic amount. In any other case, the productivity benefit is equal to the accumulated employer contributions in respect of the person. (1B) Subsection (1A) does not apply if the whole of the person’s surcharge deduction amount has, under another provision of this Act, been deducted from a benefit payable to the person. (2) Payment of a productivity benefit that becomes payable in respect of a person under this section may be postponed under Part VIB.