xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

SCHEDULES

F1 SCHEDULE 6N.I.PENSION COMPENSATION PROVISIONS

F1mod. by SR 2005/171

Modifications etc. (not altering text)

Deferred members who have not attained normal pension age at assessment dateN.I.

17.—(1) This paragraph applies for the purposes of paragraph 15(4)(c).N.I.

(2) The second revaluation period is the period which—

(a)begins with the assessment date, and

(b)ends with the day before the day on which the deferred member attains normal pension age in respect of the pension.

(3) The revaluation amount for the second revaluation period is—

(a)where that period is less than one month, nil, and

[F2(b)in any other case, the aggregate of—

(i)the higher revaluation percentage of so much of the relevant amount as is attributable to the deferred member's pensionable service falling before the day on which section 80 of the Pensions (No. 2) Act (Northern Ireland) 2008 comes into operation (“the Pensions Act commencement day”), and

(ii)the lower revaluation percentage of so much of the relevant amount as is attributable to the deferred member's pensionable service falling on or after that day.]

[F3(3A) For the purposes of sub-paragraph (3)(b)—

(a)any service within paragraph 36(4)(b) (notional pensionable service) is to be treated as falling on or after the Pensions Act commencement day if, or to the extent that, it is so treated for the purposes of the scheme;

(b)regulations may make provision in relation to cases where it is unclear whether or not any particular pensionable service (either actual or notional) falls, or is to be treated as falling, on or after that day.]

[F4(4) In sub-paragraph (3)—

“the higher revaluation percentage” means the lesser of—

(a)

the percentage increase referred to in paragraph (a) of the definition of “the higher revaluation percentage” in paragraph 17(4) of Schedule 7 to the Pensions Act 2004 (“the inflation percentage”), and

(b)

the higher maximum revaluation rate;

“the lower revaluation percentage” means the lesser of—

(a)

the inflation percentage, and

(b)

the lower maximum revaluation rate;

“the relevant amount” means the aggregate of—

(a)

the accrued amount, and

(b)

the revaluation amount for the first revaluation period (see paragraph 16).

(5) For the purposes of sub-paragraph (3)—

“the higher maximum revaluation rate”, in relation to the second revaluation period, is—

(a)

if that period is a period of 12 months, 5%, and

(b)

in any other case, the percentage referred to in paragraph (b) of the definition of “the higher maximum revaluation rate” in paragraph 17(5) of Schedule 7 to the Pensions Act 2004;

“the lower maximum revaluation rate”, in relation to the second revaluation period, is—

(a)

if that period is a period of 12 months, 2.5%, and

(b)

in any other case, the percentage referred to in paragraph (b) of the definition of “the lower maximum revaluation rate” in paragraph 17(5) of Schedule 7 to the Pensions Act 2004.

This is subject to paragraph 29 (power of Board to determine maximum revaluation rates etc.).]

(6) In this paragraph “the deferred member”, “the accrued amount” and “the pension” are to be construed in accordance with paragraph 15.