Citation, commencement and interpretation1.
(1)
This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2008 and shall come into operation on 6th April 2008.
(2)
In this Order “relevant period” has the same meaning as in section 109(3A)5 of the Pension Schemes Act 1993.
(3)
The Interpretation Act (Northern Ireland) 19546 shall apply to this Order as it applies to an Act of the Assembly.
Increase of guaranteed minimum pensions2.
For the purposes of section 105(1) of the Pension Schemes (Northern Ireland) Act 1993, the percentage by which there is to be an increase in the rate of that part of any guaranteed minimum pension which is attributable to earnings factors for the tax years in the relevant period shall be 3 per cent.
Sealed with the Official Seal of the Department for Social Development on 5th March 2008
(L.S.)
John O’Neill
A senior officer of the Department for Social Development