Textual Amendments
F1Sch. 4B inserted (11.2.2008) by Pensions Act (Northern Ireland) 2008 (c. 1), Sch. 2 para. 1
2N.I.This Part applies to a relevant year if [F2—
(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].
Textual Amendments
F2Sch. 4B para. 2(a) formed from Sch. 4B para. 2 (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(2)(a) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
F3Sch. 4B para. 2(b) and preceding word inserted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(2)(b) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
3N.I.The appropriate amount for the year for the purposes of paragraph 1 above 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).
Textual Amendments
F4Words in Sch. 4B para. 3(a) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(3)(a) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
F5Words in Sch. 4B para. 3(b) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(3)(b) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
4[F6(1)][F7Where the final relevant year is 2015-16 or an earlier tax year,] the flat rate amount for the year is calculated by multiplying the FRAA in accordance with the last order under section 130AA of the Administration Act to come into force before the end of the final relevant year.N.I.
[F8(2)Otherwise, the flat rate amount is calculated by increasing the FRAA by the percentage by which earnings factors for 2015-16 are directed to be increased by the last order under section 130 of the Administration Act to come into operation before the end of the final relevant year.]
Textual Amendments
F6Sch. 4B para. 4 renumbered (6.4.2016) as Sch. 4B para. 4(1) by The Pensions (2015 Act) (Consequential and Supplementary Amendments) Order (Northern Ireland) 2016 (S.R. 2016/78), arts. 1, 2(5)(a)(i)
5N.I.The earnings-related amount for the year is calculated as follows—
(a)take the part of the [F9earnings factor] for the year which exceeds the LET F10... ;
(b)multiply that amount in accordance with the last order under section 130 of the Administration Act to come into force before the end of the final relevant year;
(c)multiply the amount found under sub-paragraph (b) above by 10 per cent.;
(d)divide the amount found under sub-paragraph (c) above by 44.]
Textual Amendments
F9Words in Sch. 4B para. 5(a) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(4) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
F10Words in Sch. 4B para. 5(a) repealed (15.12.2008) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(2), Sch. 10 Pt. 6 (with s. 73)
