SCHEDULES

SCHEDULE 10 E+W+S Pension sharing: appropriate weekly reduction under section 14

Appropriate weekly reduction for person subject to new state scheme pension debit E+W+S

3 (1) This paragraph sets out the appropriate weekly reduction if the person is subject to a new state scheme pension debit. E+W+S

(2) If the person was over pensionable age when he or she became subject to the new state scheme pension debit, the appropriate weekly reduction is an amount equal to the amount of the debit.

(3) If the person was under pensionable age when he or she became subject to the new state scheme pension debit, the appropriate weekly reduction is an amount equal to the amount of the debit multiplied by the appropriate revaluation percentage.

(4) The “appropriate revaluation percentage” is the percentage specified, in relation to the tax year in which the person became subject to the new state scheme pension debit, by the last order under section 148AD of the Administration Act to come into force before the person reached pensionable age.

Commencement Information

I1 Sch. 10 para. 3 in force at 6.4.2016, see s. 56(1)(4)