38 Modification of earnings factors.E+W+S
(1)In section 48A(5) of the M11993 Act (power to modify the application of section 44(5) of the M21992 Act where in any year a pensioner’s earnings derive only partially from contracted-out employment), after “44(5)” there shall be inserted “or (5A)”.
(2)Subsection (1) shall have effect—
(a)in relation to the application of section 44(5A) of the 1992 Act by virtue of sections 39C(1) and 48BB(5) of that Act;
(b)in relation to the application of section 44(5A) of the 1992 Act in the circumstances described in section 128(4) to (6) of the 1995 Act.
(3)In relation to the period—
(a)beginning with 6th April 2000, and
(b)ending with the day before the first regulations under section 48A(5) of the 1993 Act (as amended by subsection (1) above) come into force,
the Secretary of State shall be taken to have, and to have had, power to calculate and pay relevant pensions by reference to section 44(5) of the 1992 Act as modified by regulations under section 48A(5) of the 1993 Act.
(4)For the purpose of applying subsection (3) above—
(a)the substitution made by section 128(1) of the 1995 Act shall be ignored; and
(b)references in enactments to section 44(5A) of the 1992 Act shall (so far as necessary) be treated as references to section 44(5).
(5)The first regulations under section 48A(5) of the 1993 Act (as amended by subsection (1) above) may include provision in relation to—
(a)revising the calculation of a relevant pension;
(b)paying a relevant pension in accordance with a revised calculation.
(6)Relevant pensions are pensions which fall to be calculated—
(a)in the circumstances described in section 128(4) to (6) of the 1995 Act; and
(b)in relation to persons where, by virtue of section 48A(1) of the 1993 Act, section 44(6) of the 1992 Act has effect in any tax year as mentioned in section 48A(1) of the 1993 Act in relation to some but not all of a person’s earnings.
(7)For the purposes of this section—
(a)the 1992 Act is the M3Social Security Contributions and Benefits Act 1992;
(b)the 1993 Act is the M4Pension Schemes Act 1993;
(c)the 1995 Act is the M5Pensions Act 1995.