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Pensions Act 2014
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- 2014 c. 19
- SCHEDULE 2
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Section 5
SCHEDULE 2E+W+STransitional rate of state pension: up-rating
This schedule has no associated Explanatory Notes
1E+W+SThis Schedule sets out how to up-rate the transitional rate of a person's state pension.
Commencement Information
I1Sch. 2 para. 1 in force at 6.4.2016, see s. 56(1)(4)
2E+W+SIn this Schedule a reference to the transitional rate of a person's state pension is to the rate—
(a)taking into account any reduction under section 14, but
(b)ignoring any increase under section 17.
Commencement Information
I2Sch. 2 para. 2 in force at 6.4.2016, see s. 56(1)(4)
3(1)The transitional rate of a person's state pension is to be increased under this paragraph if it is equal to or less than the full rate.E+W+S
(2)If at any time the full rate of the state pension is increased, the person's transitional rate is increased (at that time) by the same percentage as the increase in the full rate.
Commencement Information
I3Sch. 2 para. 3 in force at 6.4.2016, see s. 56(1)(4)
4(1)The transitional rate of a person's state pension is to be increased under this paragraph if it exceeds the full rate.E+W+S
(2)If at any time the full rate of the state pension is increased, the person's transitional rate is increased (at that time) by the same amount as the amount by which the full rate is increased.
(3)If at any time an order under section 151A of the Administration Act comes into force, the person's transitional rate is increased (at that time) by an amount equal to the appropriate percentage of the excess.
(4)In sub-paragraph (3)—
“the appropriate percentage” means the percentage specified in the order, and
“the excess” means the amount by which the transitional rate exceeded the full rate immediately before the order came into force.
Modifications etc. (not altering text)
C1Sch. 2 para. 4(3) sums amended (with effect in accordance with arts. 1(4), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2017 (S.I. 2017/260), arts. 1(2)(c), 6(4)(b)
C2Sch. 2 para. 4(3) sums amended (with effect in accordance with art. 1(3)(4) 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2018 (S.I. 2018/281), arts. 1(2)(c), 6(4)(b)
C3Sch. 2 para. 4(3) sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2019 (S.I. 2019/480), arts. 1(3)(c), 6(4)(b)
C4Sch. 2 para. 4(3) sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2020 (S.I. 2020/234), arts. 1(3)(c), 6(4)(b)
C5Sch. 2 para. 4(3): sums modified (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2021 (S.I. 2021/162), arts. 1(3)(c), 6(4)
C6Sch. 2 para. 4(3): sums modified (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2022 (S.I. 2022/292), arts. 1(3)(c), 6(4)
C7Sch. 2 para. 4(3): sums amended (coming into force in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2024 (S.I. 2024/242), arts. 1(3)(c), 6(3)(b)
Commencement Information
I4Sch. 2 para. 4 in force at 6.4.2016, see s. 56(1)(4)
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