# The Social Security (Deferral of Retirement Pensions) (Amendment) Regulations 2011, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend the Social Security (Deferral of Retirement Pensions) Regulations 2005 (S.I. 2005/453) to prescribe the day of the week on which an accrual period begins for the purposes of paragraphs 3B and 7B of Schedule 5, and paragraph 5 of Schedule 5A, to the Social Security Contributions and Benefits Act 1992 (c. 4).
Schedule 5 to that Act deals with increasing a pension or paying a lump sum where entitlement to a retirement pension is deferred. Schedule 5A to that Act deals with increasing a pension or paying a lump sum where entitlement to a shared additional pension is deferred. Paragraphs 3B and 7B of Schedule 5, and paragraph 5 of Schedule 5A, deal with calculation of a lump sum. In each case, a lump sum is calculated by reference to accrual periods, being a period of seven days within a period of deferment beginning with a prescribed day of the week.
A full impact assessment has not been produced for this instrument as it has no impact on the private or voluntary sectors.

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Source: https://www.legislation.gov.uk/uksi/2011/786/note (the official version)
Page: https://openlegislation.uk/social-security-deferral-of-retirement-pensions-amendment-regulations-2011/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.