SCHEDULES

SCHEDULE 1STATE PENSION: CONSEQUENTIAL AND RELATED AMENDMENTS

PART 7ADDITIONAL PENSION: SIMPLIFIED ACCRUAL RATES

The Pension Schemes (Northern Ireland) Act 1993 (c. 49)

33

In section 8B of the Pension Schemes Act (reference scheme)—

a

in subsection (5) (definition of earner's qualifying earnings) in paragraph (b), for “the upper earnings limit for that year multiplied by fifty-three” substitute “ the applicable limit ”;

b

in subsection (7), before the definition of “normal pension age” insert—

“the applicable limit” means—

a

in relation to a tax year before the flat rate introduction year, the upper earnings limit for the year multiplied by 53;

b

in relation to the flat rate introduction year or any subsequent tax year, the upper accrual point;