SCHEDULES

[F1SCHEDULE 4BN.I.Additional Pension: Accrual Rates for Purposes of Section 45(2)(d)

Textual Amendments

PART 3N.I.CONTRACTED-OUT EMPLOYMENT

Amount A: assumed [F2earnings factor] exceeding LETN.I.

Textual Amendments

9(1)Amount A is calculated in accordance with this paragraph if [F3the pensioner's assumed earnings factor for the year] exceeds the LET.N.I.

(2)In such a case, amount A is calculated as follows—

(a)take the part of the [F4assumed earnings factor] for the year which exceeds the LET F5... ;

(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 paragraph (b) above by 10 per cent.;

(d)divide the amount found under paragraph (c) above by 44;

(e)add the amount found under paragraph (d) above to the flat rate amount for the year.

(3)[F6Where 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.]

[F7(4)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