Pensions Act (Northern Ireland) 2015, Paragraph 3 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
3—(1) This paragraph sets out the appropriate weekly reduction if the person is subject to a new state scheme pension debit.N.I.
(2) If the person was over pensionable age when he or she became subject to the new state scheme pension debit, the appropriate weekly reduction is an amount equal to the amount of the debit.
(3) If the person was under pensionable age when he or she became subject to the new state scheme pension debit, the appropriate weekly reduction is an amount equal to the amount of the debit multiplied by the appropriate revaluation percentage.
(4) The “appropriate revaluation percentage” is the percentage specified, in relation to the tax year in which the person became subject to the new state scheme pension debit, by the last order under section 130AD of the Administration Act to come into operation before the person reached pensionable age.
Commencement Information
I1Sch. 10 para. 3 in operation at 6.4.2016, see s. 53(1)(3)
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