OpenLegislation

Paragraph 9 F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amount A is calculated in accordance with this paragraph if F2the pensioner's assumed earnings factor for the year exceeds the LET.

(2)

In such a case, amount A is calculated as follows—

(a)

take the part of the F3assumed earnings factor for the year which exceeds the LET F4... ;

(b)

multiply that amount in accordance with the last order under section 130 of the Administration Act to come into force before the end of the final relevant year;

(c)

multiply the amount found under paragraph (b) above by 10 per cent.;

(d)

divide the amount found under paragraph (c) above by 44;

(e)

add the amount found under paragraph (d) above to the flat rate amount for the year.

(3)

F5Where 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.

F6(4)

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. 9(1) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(7)(a) (with s. 73); S.R. 2011/441, art. 2(c)(xii)

F3

Words in Sch. 4B para. 9(2)(a) substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(7)(b) (with s. 73); S.R. 2011/441, art. 2(c)(xii)

F4

Words in Sch. 4B para. 9(2)(a) repealed (15.12.2008) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(2), Sch. 10 Pt. 6 (with s. 73)

F5

Words in Sch. 4B para. 9(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)(c)(i)

F6

Sch. 4B para. 9(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)(c)(ii)

Notes on Amount A: assumed earnings factor exceeding LET

Textual amendments

F2

Words in Sch. 4B para. 9 cross-heading substituted (3.1.2012) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 3 para. 12(7) (with s. 73); S.R. 2011/441, art. 2(c)(xii)