The Pensions Increase (Review) Order (Northern Ireland) 2023

Pension increases: annual rate and lump sums N.I.

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 10th April 2023, the pension authority may increase the annual rate(1) of the pension—

(a) for a pension which began before 11th April 2022, by 10.1 per cent;

(b) for a pension which began on or after 11th April 2022, by 10.1 per cent multiplied by—

where A is the number of complete months in the period between the beginning date of the pension and 10th April 2023.

(3) In relation to a lump sum which is payable on or after 11th April 2022 but before 10th April 2023, the pension authority may increase the lump sum by 10.1 per cent multiplied by—

where A is the number of complete months in the period between the beginning date of the lump sum (or, if later, 11th April 2022) and the date on which it becomes payable.

Commencement Information

I1 Art. 3 in operation at 10.4.2023, see art. 1

(1)

Section 69(5) of the Social Security Pensions (Northern Ireland) Order 1975 provides that the increases in the rate of a pension are to be calculated by reference to the basic rate of the pension as authorised to be increased by section 1 of the Pensions (Increase) Act (Northern Ireland) 1971 or by any order under section 2 of that Act or section 69 of the Social Security Pensions (Northern Ireland) Order 1975.