There are currently no known outstanding effects for the Pensions Act 2014, Paragraph 15.
15(1)Section 14 (earner's guaranteed minimum) is amended as follows.E+W+S
(2)For subsection (1) substitute—
“(1)An earner has a guaranteed minimum in relation to the pension provided by a scheme that was a salary related contracted-out scheme if in any tax week in a relevant year—
(a)earnings were paid to or for the earner's benefit in respect of employment which was contracted-out by reference to the scheme; and
(b)those earnings were in excess of the lower earnings limit for that tax week (or the prescribed equivalent if the earner was paid otherwise than weekly).”
(3)In subsection (2), for “earnings such as are mentioned in subsection (1)” substitute “ excess earnings mentioned in subsection (1)(b) ”.
Commencement Information
I1Sch. 13 para. 15 in force at 6.4.2016, see s. 56(1)(4)
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