SCHEDULES

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

Annotations:
Amendments (Textual)

PART 2NORMAL RULES: EMPLOYMENT NOT CONTRACTED-OUT

Application

2

This Part applies to a relevant year if F3—

a

the contracted-out condition is not satisfied in respect of any tax week in the year; F4and

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 above is either—

a

the flat rate amount for the year (if F5the 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 F6that earnings factor exceeds the LET).

4

F81

F9Where 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.

F102

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.

5

The earnings-related amount for the year is calculated as follows—

a

take the part of the F7earnings factor for the year which exceeds the LET F2... ;

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.