Paragraph 10 F1

England, Wales and Scotland

(1)

Amount B is calculated as follows—

(a)

take the part of the F2pensioner's assumed earnings factor for the year which exceeds the QEF F3...;

(b)

multiply that amount in accordance with the last order under section 148 of the Administration Act to come into force before the end of the final relevant year;

(c)

multiply the amount found under paragraph (b) by 20%;

(d)

divide the amount found under paragraph (c) by the number of relevant years in the pensioner's working life.

(2)

Section 44B is to be ignored in applying section 44(6) for the purposes of this paragraph.

Annotations

Textual amendments

F1: Sch. 4B inserted (26.9.2007) by Pensions Act 2007 (c. 22), s. 30(3), Sch. 2 para. 1
F2: Words in Sch. 4B para. 10(1)(a) substituted (3.1.2012) by Pensions Act 2008 (c. 30), s. 149(1), Sch. 4 para. 12(8); S.I. 2011/3033, art. 2(c)(xii)
F3: Words in Sch. 4B para. 10(1)(a) repealed (21.9.2008) by National Insurance Contributions Act 2008 (c. 16), s. 6(1), Sch. 2