The Social Security Revaluation of Earnings Factors Order (Northern Ireland) 2012

Made2nd March 2012

Coming into operation6th April 2012

This Order is made in exercise of the powers conferred by sections 130 and 165(1), (4) and (5) of the Social Security Administration (Northern Ireland) Act 19921 and now vested in the Department for Social Development2.

The Secretary of State for Work and Pensions has made an Order3 under section 148 of the Social Security Administration Act 19924.

Accordingly the Department for Social Development makes the following Order.

Citation and commencement1

This Order may be cited as the Social Security Revaluation of Earnings Factors Order (Northern Ireland) 2012 and shall come into operation on 6th April 2012.

Revaluation of earnings factors2

The earnings factors5 for the tax years specified in the first column of the Schedule in so far as they are relevant6—

a

to the calculation—

i

of the additional pension in the rate of any long-term benefit, or

ii

of any guaranteed minimum pension, or

b

to any other calculation required under Part III of the Pension Schemes (Northern Ireland) Act 19937 (including that Part as modified by or under any other enactment),

are directed to be increased for those tax years by the percentage of their amount shown opposite those tax years in the second column of the Schedule.

Rounding of fractional amounts3

Where any earnings factor relevant to the calculation specified in Article 2(a)(i), as increased in accordance with this Order, would not but for this Article be expressed as a whole number of pounds, it shall be so expressed by the rounding down of any fraction of a pound less than one half and the rounding up of any other fraction of a pound.

Sealed with the Official Seal of the Department for Social Development on 2nd March 2012

(L.S.)Anne McClearyA senior officer of the Department for Social Development

SCHEDULE

Article 2

Tax Year	Percentage
1978 - 1979	719.5
1979 - 1980	623.3
1980 - 1981	504.3
1981 - 1982	406.1
1982 - 1983	359.6
1983 - 1984	326.8
1984 - 1985	295.2
1985 - 1986	270.7
1986 - 1987	240.4
1987 - 1988	217.0
1988 - 1989	191.6
1989 - 1990	163.2
1990 - 1991	145.3
1991 - 1992	122.8
1992 - 1993	109.2
1993 - 1994	99.2
1994 - 1995	93.2
1995 - 1996	85.1
1996 - 1997	80.0
1997 - 1998	71.5
1998 - 1999	63.9
1999 - 2000	57.3
2000 - 2001	48.0
2001 - 2002	42.3
2002 - 2003	36.4
2003 - 2004	31.7
2004 - 2005	26.9
2005 - 2006	21.9
2006 - 2007	17.9
2007 - 2008	13.2
2008 - 2009	8.7
2009 – 2010	5.4
2010 – 2011	4.1
2011 – 2012	1.8

EXPLANATORY NOTE

(This note is not part of the Order)

This Order corresponds to an Order (S.I. 2012/187) made by the Secretary of State for Work and Pensions under section 148 of the Social Security Administration Act 1992. It directs that the earnings factors relevant to the calculation of the additional pension in the rate of any long-term benefit or of any guaranteed minimum pension, or to any other calculation required under Part III of the Pension Schemes (Northern Ireland) Act 1993 are to be increased for the tax years specified in the Schedule to this Order by the percentage of their amount specified in that Schedule. The percentages for the tax years from and including 2000-2001 are also relevant for the purpose of revaluing state scheme pension debits and credits in accordance with sections 45B(6), 55A(5) and 55B(6) of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (“the 1992 Act”). The percentage for the tax year 2011 – 2012 is 1.8 per cent. and those for earlier tax years have been increased so that the earnings factors for those years are revalued at 2011-2012 earning levels.

This Order also provides for the rounding of fractional amounts for earnings factors relevant to the calculation of the additional pension in the rate of any long-term benefit. Rounding for the purpose of the calculation of any guaranteed minimum pension is not required by virtue of section 23(2) of the 1992 Act.