2.—(1) Subject to sub-paragraph (2) below, a person’s earnings factorderived in respect of the year commencing on 6th April 1987, or anysubsequent year, from—
(a)those of his earnings paid in that year upon which Class 1contributions have been paid or treated as paid in respect of that year,and
(b)earnings with which he has been credited in respect of that year,
shall be equal to the amount of those actual and credited earnings.
(2) Any earnings factor ascertained under sub-paragraph (1) above shallbe rounded down to the nearest whole pound.