Earnings factorsE+W+S
37 Revaluation of earnings factors.E+W+S
In section 148(2) of the M1Social Security Administration Act 1992 (revaluation of earnings factors), for the words from “place” to the end there shall be substituted “place—
(a)since the end of the period taken into account for the last review under this section, or
(b)since such other date (whether earlier or later) as he may determine;
and for the purposes of any such review the Secretary of State shall estimate the general level of earnings in such manner as he thinks fit. ”
38 Modification of earnings factors.E+W+S
(1)In section 48A(5) of the M21993 Act (power to modify the application of section 44(5) of the M31992 Act where in any year a pensioner’s earnings derive only partially from contracted-out employment), after “44(5)” there shall be inserted “or (5A)”.
(2)Subsection (1) shall have effect—
(a)in relation to the application of section 44(5A) of the 1992 Act by virtue of sections 39C(1) and 48BB(5) of that Act;
(b)in relation to the application of section 44(5A) of the 1992 Act in the circumstances described in section 128(4) to (6) of the 1995 Act.
(3)In relation to the period—
(a)beginning with 6th April 2000, and
(b)ending with the day before the first regulations under section 48A(5) of the 1993 Act (as amended by subsection (1) above) come into force,
the Secretary of State shall be taken to have, and to have had, power to calculate and pay relevant pensions by reference to section 44(5) of the 1992 Act as modified by regulations under section 48A(5) of the 1993 Act.
(4)For the purpose of applying subsection (3) above—
(a)the substitution made by section 128(1) of the 1995 Act shall be ignored; and
(b)references in enactments to section 44(5A) of the 1992 Act shall (so far as necessary) be treated as references to section 44(5).
(5)The first regulations under section 48A(5) of the 1993 Act (as amended by subsection (1) above) may include provision in relation to—
(a)revising the calculation of a relevant pension;
(b)paying a relevant pension in accordance with a revised calculation.
(6)Relevant pensions are pensions which fall to be calculated—
(a)in the circumstances described in section 128(4) to (6) of the 1995 Act; and
(b)in relation to persons where, by virtue of section 48A(1) of the 1993 Act, section 44(6) of the 1992 Act has effect in any tax year as mentioned in section 48A(1) of the 1993 Act in relation to some but not all of a person’s earnings.
(7)For the purposes of this section—
(a)the 1992 Act is the M4Social Security Contributions and Benefits Act 1992;
(b)the 1993 Act is the M5Pension Schemes Act 1993;
(c)the 1995 Act is the M6Pensions Act 1995.