Paragraph 3

The amount of the deduction from the remuneration in respect of the further employment referred to in paragraph 2 shall be calculated by multiplying the amount of that remuneration by a fraction of which—

(a)

the numerator is equivalent to the aggregate of the amount of increases which would have been provided for under the provisions of section 59 of the Social Security Pensions Act 1975^f1 during the period beginning on the material date and ending on the day the further employment terminated, on an official pension of £100 a year which commenced from the material date,

(b)

the denominator is equivalent to the aggregate of an official pension of £100 per year and the amount of the increases so determined.

For the purposes of this paragraph “official pension” shall have the meaning assigned to it by section 5(1) of the Pensions (Increase) Act 1971.

Annotations

Footnotes

f1: Section 59 was amended by section 11 of the Social Security Act 1979 (c. 18).