Article 5 Increase in rates or amounts of certain benefits under the Pensions Order

(1)

The sums specified in paragraph (2) below shall be increased from and including the respective dates specified in Article 6 below.

(2)

Sums which are payable by virtue of Article 37(6) of the Pensions Order^f1 (which provides for increases in a person’s guaranteed minimum pension if payment of his occupational pension is postponed after he attains pensionable age) to a person who is also entitled to a Category A or Category B retirement pension (including sums payable by virtue of Article 38(3) of that Order)^f2, shall be increased by—

(a)

3·6 per cent. of their amount apart from this order where the increase under Article 37(6) is attributable to earnings factors for the tax year 1987/1988 and earlier tax years; and

(b)

0·6 per cent, of their amount apart from this order where the increase under Article 37(6) is attributable to earnings factors for the tax year 1988/1989 and subsequent tax years^f3.

Annotations

Footnotes

f1: Article 37(6) was amended by Article 4(2) of the Social Security (Miscellaneous Provisions) (Northern Ireland) Order 1977
f2: Article 38(3) was substituted by Article 11(3)(b) of the Social Security (Northern Ireland) Order 1986
f3: See section 132(2) (4) and (5) of the Social Security Administration (Northern Ireland) Act 1992 and the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 1993 (S.R. 1993 No. 62)