[F1Appropriate amount for yearE+W+S
Textual Amendments
F1Sch. 4B inserted (26.9.2007) by Pensions Act 2007 (c. 22), s. 30(3), Sch. 2 para. 1
3E+W+SThe appropriate amount for the year for the purposes of paragraph 1 is either—
(a)the flat rate amount for the year (if [F2the 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 [F3that earnings factor] exceeds the LET).
Textual Amendments
F2Words in Sch. 4B para. 3(a) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(3)(a); S.I. 2011/3033, art. 2(c)(xii)
F3Words in Sch. 4B para. 3(b) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(3)(b); S.I. 2011/3033, art. 2(c)(xii)
4E+W+SThe 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.
5E+W+SThe earnings-related amount for the year is calculated as follows—
(a)take the part of the [F4earnings factor] for the year which exceeds the LET F5...;
(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.]
Textual Amendments
F4Words in Sch. 4B para. 5(a) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(4); S.I. 2011/3033, art. 2(c)(xii)
F5Words in Sch. 4B para. 5(a) repealed (21.9.2008) by National Insurance Contributions Act 2008 (c. 16), s. 6(1), Sch. 2