SCHEDULES

F1SCHEDULE 4BAdditional Pension: Accrual Rates for Purposes of Section 45(2)(d)

Annotations:
Amendments (Textual)

PART 5INTERPRETATION

12

In this Schedule—

  • “assumed surplus”, in relation to a pensioner's earnings factor for a year, means the surplus there would be in that factor for the year if section 44A(1) of the Pensions Act (no primary Class 1 contributions deemed to be paid) did not apply in relation to any tax week falling in the year;

  • “the contracted-out condition”, in relation to a tax week, means the condition that any earnings paid to or for the benefit of the pensioner in that week in respect of employment were in respect of employment qualifying him for a pension provided by a salary related contracted-out scheme (within the meaning of the Pensions Act);

  • “the FRAA” has the meaning given by paragraph 13 below;

  • “the LET”, in relation to a tax year, means the low earnings threshold for the year as specified in section 44A above;

  • “the QEF”, in relation to a tax year, means the qualifying earnings factor for the year;

  • “relevant year” and “final relevant year” have the same meanings as in section 44 above;

  • “the UAP” means the upper accrual point.