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Paragraph 7 Reduction of the transitional additional amountF1

(1)

Whenever there is a relevant increase after the first day on which the transitional additional amount applies, the transitional additional amount is to be reduced by an amount equal to that increase.

(2)

A relevant increase is an increase in the standard minimum guarantee or in any additional amount prescribed under section 2(3) of the Act, including where that additional amount is applied for the first time or reapplied following a change of circumstances.

Annotations

Textual amendments

F1

Sch. 2B inserted (8.6.2024) by The Social Security (State Pension Age Claimants: Closure of Tax Credits) (Amendment) Regulations 2024 (S.I. 2024/611), regs. 1(1), 4(5)