Pensions (No. 2) Act (Northern Ireland) 2008

12—(1) Schedule 4B (additional pension: accrual rates for purposes of section 45(2)(d)) is amended as follows. N.I.

(2) In paragraph 2 (application of Part 2 of Schedule)—

(a) after “if” insert

“—

(a)” ;

(b) after paragraph (a) (created by virtue of paragraph (a) above) insert

“and

(b) there is a surplus in the pensioner's earnings factor for the year.”.

(3) In paragraph 3 (appropriate amount for year)—

(a) in paragraph (a), for the words from “there is” to “which” substitute “ the pensioner's earnings factor for the year ”;

(b) in paragraph (b), for “there is such a surplus which” substitute “ that earnings factor ”.

(4) In paragraph 5(a) for “surplus” substitute “ earnings factor ”.

(5) In paragraph 6 (application of Part 3 of Schedule)—

(a) after “if” insert

“—

(a)” ;

(b) after paragraph (a) (created by virtue of paragraph (a) above) insert

“and

(b) there would be a surplus in the pensioner's earnings factor for the year if section 44A of the Pensions Act did not apply in relation to any tax week falling in the year.”.

(6) In paragraph 8(1) (calculation of amount A: assumed surplus not exceeding LET), for the words from “there” to “which” substitute “ the pensioner's assumed earnings factor for the year ”; and, accordingly, in the heading before paragraph 8 for “surplus” substitute “ earnings factor ”.

(7) In paragraph 9 (calculation of amount A: assumed surplus exceeding LET)—

(a) in sub-paragraph (1), for the words from “there” to “which” substitute “ the pensioner's assumed earnings factor for the year ”;

(b) in sub-paragraph (2)(a), for “assumed surplus” substitute “ assumed earnings factor ”,

and, accordingly, in the heading before paragraph 9 for “surplus” substitute “ earnings factor ”.

(8) In paragraph 10(1)(a) (amount B), for “assumed surplus” substitute “ pensioner's assumed earnings factor ”.

(9) In paragraph 12 (interpretation)—

(a) omit the definition of “assumed surplus”;

(b) before the definition of “the QEF” insert—

““the pensioner's assumed earnings factor”, in relation to a year, means the earnings factor that the pensioner would have for the year if section 44A(1) of the Pensions Act did not apply in relation to any tax week falling in the year;”.

Commencement Information

I1 Sch. 3 para. 12 in operation at 3.1.2012 by S.R. 2011/441, art. 2(c)(xii)