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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
Pension increases: annual rate and lump sums
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3.—(1) This article applies to an official pension if—
(a)a qualifying condition is satisfied; or
(b)the pension is—
(i)a derivative pension,
(ii)a substituted pension or,
(iii)a relevant injury pension.
(2) In relation to any period on or after 11th April 2022, the pension authority may increase the annual rate() of the pension—
(a)for a pension which began before 12th April 2021, by 3.1 per cent;
(b)for a pension which began on or after 12th April 2021, by 3.1 per cent multiplied by—
where A is the number of complete months in the period between the beginning date of the pension and 11th April 2022.
(3) In relation to a lump sum which is payable on or after 12th April 2021 but before 11th April 2022, the pension authority may increase the lump sum by 3.1 per cent multiplied by—
where A is the number of complete months in the period between the beginning date for the lump sum (or, if later, 12th April 2021) and the date on which it became payable.
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