Pensions Act 2014

This section has no associated Explanatory Notes

7(1)Section 45 (rate of additional pension in a Category A retirement pension) is amended as follows.E+W+S

(2)In subsection (1)—

(a)after “shall be” insert the sum of the following—

(a)in relation to any surpluses in the pensioner's earnings factors,;

(b)at the end insert ; and

(b)if the pensioner has one or more units of additional pension, a specified amount for each of those units.

(3)In subsection (2), at the end of paragraph (d) insert ; and

(e)if the pensioner has one or more units of additional pension, a specified amount for each of those units.

(4)After subsection (2) insert—

(2A)For the purposes of subsections (1)(b) and (2)(e) the “specified amount” is an amount to be specified by the Secretary of State in regulations.

Commencement Information

I1Sch. 15 para. 7 in force at 1.10.2014 for specified purposes by S.I. 2014/2377, art. 2(1)(a)(ii)(3)(d)(ii)

I2Sch. 15 para. 7 in force at 12.10.2015 in so far as not already in force by S.I. 2015/1475, art. 3(b)