SCHEDULES

F1F2SCHEDULE 3A

Annotations:
Amendments (Textual)
F2

Sch. 3A inserted (prosp.) by Sch. 2 to Social Security Act 1990 (c. 27)

Proportional increases where first period is less than 12 months

4

1

Where a pension commenced to be paid less than twelve months before the date on which its first increase under paragraph 2 above is to take effect, the amount of that first increase shall be determined by the application of the formula—

M×I12math

Where—

  1. M

    is the number of complete months in the period beginning with the commencement of the pension and ending immediately before that date; and

  2. I

    is the amount of the increase that would have been required by that paragraph, apart from this sub-paragraph.

2

This paragraph shall apply in relation to the first increase of a pension by virtue of paragraph 3 above in consequence of each successive valuation surplus as it applies in relation to the first increase of a pension under paragraph 2 above.