F1SCHEDULE 4BAdditional pension: accrual rates for purposes of section 45(2)(d)
Part 2Normal rules: employment not contracted-out
Application
2
This Part applies to a relevant year ifF2—
(a)
the contracted-out condition is not satisfied in respect of any tax week in the year; F3and
(b)
there is a surplus in the pensioner's earnings factor for the year.
Appropriate amount for year
3
The appropriate amount for the year for the purposes of paragraph 1 is either—
(a)
the flat rate amount for the year (if F4the pensioner's earnings factor for the year does not exceed the LET), or
(b)
the sum of the flat rate amount and the earnings-related amount for the year (if F5that earnings factor exceeds the LET).
4
The flat rate amount for the year is calculated by multiplying the FRAA in accordance with the last order under section 148AA of the Administration Act to come into force before the end of the final relevant year.
5
The earnings-related amount for the year is calculated as follows—
(b)
multiply that amount in accordance with the last order under section 148 of the Administration Act to come into force before the end of the final relevant year;
(c)
multiply the amount found under paragraph (b) by 10%;
(d)
divide the amount found under paragraph (c) by 44.