6(1)In section 54(1) of the Social Security Contributions and Benefits Act 1992 (election to defer right to pension), in paragraph (a), the words from “but” to “70” are omitted.E+W+S
(2)In Schedule 5 to that Act—
(a)in paragraph 2(2), the definition of “period of enhancement” (and the preceding “and”) are omitted, and
(b)for “period of enhancement” (in every other place in paragraphs 2 and 3 where it appears) there is substituted “ period of deferment ”.
(3)In paragraph 2(3) of that Schedule, for “1/7th per cent.” there is substituted “ 1/5th per cent. ”
(4)In paragraph 8 of that Schedule, sub-paragraphs (1) and (2) are omitted.
[F1(5)The preceding sub-paragraphs shall come into force as follows—
(a)sub-paragraphs (1) and (4) shall come into force on 6th April 2005;
(b)sub-paragraphs (2) and (3) shall have effect in relation to incremental periods (within the meaning of Schedule 5 to the Social Security Contributions and Benefits Act 1992 (c. 4)) beginning on or after that date.]
Textual Amendments
F1Sch. 4 para. 6(5) substituted (18.11.2004) by Pensions Act 2004 (c. 35), ss. 297(3), 322(2)(c)(ii)