Paragraph 8 F1
Amount A is calculated in accordance with this paragraph if F2the pensioner's assumed earnings factor for the year does not exceed the LET.
In such a case, amount A is the flat rate amount for the year.
F3Where the final relevant year is 2015-16 or an earlier tax year, the flat rate amount for the year is calculated by multiplying the FRAA in accordance with the last order under section 130AA of the Administration Act to come into force before the end of the final relevant year.
Otherwise, the flat rate amount is calculated by increasing the FRAA by the percentage by which earnings factors for 2015-16 are directed to be increased by the last order under section 130 of the Administration Act to come into operation before the end of the final relevant year.
Annotations
Textual amendments
- F1
Sch. 4B inserted (11.2.2008) by Pensions Act (Northern Ireland) 2008 (c. 1), Sch. 2 para. 1
- F2
Words in Sch. 4B para. 8(1) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(6) (with s. 73); S.R. 2011/441, art. 2(c)(xii)
- F3
Words in Sch. 4B para. 8(3) inserted (6.4.2016) by The Pensions (2015 Act) (Consequential and Supplementary Amendments) Order (Northern Ireland) 2016 (S.R. 2016/78), arts. 1, 2(5)(b)(i)
- F4
Sch. 4B para. 8(4) added (6.4.2016) by The Pensions (2015 Act) (Consequential and Supplementary Amendments) Order (Northern Ireland) 2016 (S.R. 2016/78), arts. 1, 2(5)(b)(ii)
Notes on Amount A: assumed earnings factor not exceeding LET
Textual amendments
- F2
Words in Sch. 4B para. 8 cross-heading substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(6) (with s. 73); S.R. 2011/441, art. 2(c)(xii)