Article 2 Revaluation of earnings factors

Earnings factors for the tax years specified in the Schedule to this Order in so far as they are relevant—

(a)

to the calculation of—

(i)

the additional pension in the rate of any long-term benefit; or

(ii)

any guaranteed minimum pension^f1; or

(b)

to any other calculation required under Part 3 of the Pension Schemes Act 1993 (schemes that were contracted-out etc. and effects on members’ state scheme rights)^f2 (including that Part as modified by or under any other enactment),

are directed^f3 to be increased by the percentage of their amount shown opposite those tax years in that Schedule.

Annotations

Footnotes

f1: Earnings factors for any year after 1996-1997 are not relevant to the calculation of any guaranteed minimum pension: section 14(8) of the 1993 Act as amended by paragraph 27(b) of Schedule 5 to the 1995 Act.
f2: 1993 c. 48.
f3: See section 148(4) of the Administration Act.