PART 2 Amendment of the FAS Regulations

30 Amendment of Schedule 2 – shared initial payments
After paragraph 10 of Schedule 2 (initial payments), insert—

“10A Shared initial payments
1 Where two or more survivors of a qualifying member are entitled to a shared initial payment by virtue of regulation 18(4B), the amount of each survivor’s shared initial payment shall be—
Z−YN
2 In this paragraph—
“N” means the number of survivors of the qualifying member;
“Y” means the sum of the interim pensions of all the survivors which would have been determined in accordance with paragraph 5(3) had that paragraph applied to the survivors; and
“Z” means the product of 0.9 multiplied by the expected pension which would have been determined in accordance with paragraph 5(3) had that paragraph applied to the survivors.
Paragraph 5(3) is modified by paragraph 10(b), (d) and (e) of Schedule 2 for the purposes of determining the amount of an initial payment.”

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