[F19(1)Amount A is calculated in accordance with this paragraph if [F2the pensioner's assumed earnings factor for the year] exceeds the LET.E+W+S
(2)In such a case, amount A is calculated as follows—
(a)take the part of the [F3assumed earnings factor] for the year which exceeds the LET F4...;
(b)multiply that amount in accordance with the last order under section 148 of the Administration Act to come into force before the end of the final relevant year;
(c)multiply the amount found under paragraph (b) by 10%;
(d)divide the amount found under paragraph (c) by 44;
(e)add the amount found under paragraph (d) to the flat rate amount for the year.
(3)[F5Where the final relevant year is 2015-16 or an earlier tax year,] the flat rate amount for the year is calculated by multiplying the FRAA in accordance with the last order under section 148AA of the Administration Act to come into force before the end of the final relevant year.
[F6(4)Otherwise, the flat rate amount is calculated by increasing the FRAA by the percentage by which earnings factors for 2015-16 are directed to be increased by the last order under section 148 of the Administration Act to come into force before the end of the final relevant year.]]
Textual Amendments
F1Sch. 4B inserted (26.9.2007) by Pensions Act 2007 (c. 22), s. 30(3), Sch. 2 para. 1
F2Words in Sch. 4B para. 9(1) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(7)(a); S.I. 2011/3033, art. 2(c)(xii)
F3Words in Sch. 4B para. 9(2)(a) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(7)(b); S.I. 2011/3033, art. 2(c)(xii)
F4Words in Sch. 4B para. 9(2)(a) repealed (21.9.2008) by National Insurance Contributions Act 2008 (c. 16), s. 6(1), Sch. 2
F5Words in Sch. 4B para. 9(3) inserted (6.4.2016) by The Pensions Act 2014 (Consequential and Supplementary Amendments) Order 2016 (S.I. 2016/224), arts. 1(2), 2(7)(a)