Regulation 7 Savings CreditI1

Northern Ireland

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

reg. 7(2) sums substituted by Social Security Benefits (Adjustment of Amounts and Thresholds) Regulations (Northern Ireland) 2016 reg. 4(2)
reg. 7(1)(a)-(c) percentages confirmed by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 24(3)(a)
reg. 7(1)(a)-(c) percentages confirmed by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 25(3)(a)
reg. 7(2) sums substituted by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 24(3)(b)
reg. 7(2) sums substituted by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 25(3)(b)
reg. 7(3) sum specified by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 24(6) Sch. 13
reg. 7(3) sum specified by Social Security Benefits Up-rating Order (Northern Ireland) 2017 art. 25(6) Sch. 13
reg. 7(1)(a)-(c) percentages confirmed by Social Security (2017 Benefits Up-rating) Order (Northern Ireland) 2018 art. 24(3)(a)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2018 art. 25(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating Order (Northern Ireland) 2018 art. 26(3)
reg. 7(2) sums substituted by Social Security (2017 Benefits Up-rating) Order (Northern Ireland) 2018 art. 24(3)(b)
reg. 7(3) sum specified by Social Security (2017 Benefits Up-rating) Order (Northern Ireland) 2018 art. 24(6) Sch. 13
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2019 art. 25(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating Order (Northern Ireland) 2019 art. 26(3)
reg. 7(2) sums substituted by Social Security (2018 Benefits Up-rating) Order (Northern Ireland) 2019 art. 25(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2020 art. 30(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2021 art. 30(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2022 art. 29(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2022 art. 30(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2023 art. 29(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2023 art. 30(3)
reg. 7(2) sums substituted by Social Security (2022 Benefits Up-rating) 2023 art. 29(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2024 art. 29(3)
reg. 7(2) sums substituted by Social Security (2023 Benefits Up-rating) 2024 art. 28(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2025 art. 29(3)
reg. 7(2) sums substituted by Social Security Benefits Up-rating 2026 art. 29(3)

(1)

The percentage prescribed for the purposes of determining –

C1 C2 C3 C4 C5 C6 C7 C8 C9 C10 C11 C12(a)

the maximum savings credit is F160 per cent.;

(b)

“amount A” in section 3(4) of the Act is 60 per cent.;

(c)

“amount B” in section 3(4) of the Act is 40 per cent..

C13(2)

The amount prescribed for the savings credit threshold is F2£126∙50 for a claimant who has no partner and £201∙80 for a claimant who has a partner.

C14 C15 C16 C17 C18 C19 C20 C21 C22 C23 C24 C25 C26(3)

The maximum savings credit shall be taken to be nil in the case of –

(a)

prisoners, and

(b)

members of religious orders who are fully maintained by their order.

(4)

If a calculation made for the purposes of paragraph (1)(b) or (c) results in a fraction of a penny, that fraction shall, if it would be to the claimant’s advantage, be treated as a penny, otherwise it shall be disregarded.

Annotations

Textual amendments

F1: Words in reg. 7(1)(a)-(c) confirmed (7.4.2003) by The Social Security Benefits Up-rating Order (Northern Ireland) 2003 (S.R. 2003/155), arts. 1(1)(d), 24(3)(a)
F2: Sums in Reg. 7(2) substituted (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2015 (S.R. 2015/124), arts. 1(1)(k), 24(3)(b)

Modifications

C1: Reg. 7(1)(a)(b)(c): sums confirmed (12.4.2004) by The Social Security Benefits Up-rating Order (Northern Ireland) 2004 (S.R. 2004/82), arts. 1(1)(e), 24(3)(a)
C2: Reg. 7(1)(a)(b)(c): sums confirmed (11.4.2005) by The Social Security Benefits Up-rating Order (Northern Ireland) 2005 (S.R. 2005/82), arts. 1(1)(f), 24(3)(a)
C3: Reg. 7(1)(a)(b)(c): sums confirmed (with effect in accordance with arts. 1(2), 6 of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2006 (S.R. 2006/109), arts. 1(1)(g), 24(3)(a)
C4: Reg. 7(1)(a)(b)(c): sums confirmed (coming into operation in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2007 (S.R. 2007/153), art. 24(3)(a)
C5: Reg. 7(1)(a)-(c): sums confirmed (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2008 (revoked) 2008 (S.R. 2008/92), art. 24(3)(a)
C6: Reg. 7(1)(a)-(c): sums confirmed (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2009 (revoked) 2009 (S.R. 2009/89), art. 24(3)(a)
C7: Reg. 7(1)(a)-(c): sum confirmed (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2010 (revoked) 2010 (S.R. 2010/118), art. 24(3)(a)
C8: Reg. 7(1)(a)-(c) percentages confirmed (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2011 (revoked) 2011 (S.R. 2011/119), arts. 1(1)(l), 25(3)(a)
C9: Reg. 7(1)(a)-(c) percentages confirmed (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2012 (S.R. 2012/116), arts. 1(1)(l), 25(3)(a)
C10: Reg. 7(1)(a)-(c) percentages confirmed (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2013 (S.R. 2013/69), arts. 1(1)(k), 24(3)(a)
C11: Reg. 7(1)(a)-(c) percentages confirmed (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2014 (revoked) 2014 (S.R. 2014/78), arts. 1(1)(k), 24(3)(a)
C12: Reg. 7(1)(a)-(c) percentages confirmed (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2015 (revoked) 2015 (S.R. 2015/124), arts. 1(1)(k), 24(3)(a)
C13: Reg. 7(2): sums confirmed (7.4.2003) by The Social Security Benefits Up-rating Order (Northern Ireland) 2003 (S.R. 2003/155), arts. 1(1)(d), 24(3)(b)
C14: Reg. 7(3): sum specified (7.4.2003) by The Social Security Benefits Up-rating Order (Northern Ireland) 2003 (S.R. 2003/155), arts. 1(1)(d), 24(6), Sch. 14
C15: Reg. 7(3): sum specified (12.4.2004) by The Social Security Benefits Up-rating Order (Northern Ireland) 2004 (S.R. 2004/82), arts. 1(1)(e), 24(6), Sch. 16
C16: Reg. 7(3): sum specified (11.4.2005) by The Social Security Benefits Up-rating Order (Northern Ireland) 2005 (S.R. 2005/82), arts. 1(1)(f), 24(6), Sch. 16
C17: Reg. 7(3): sum specified (with effect in accordance with arts. 1(2), 6 of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2006 (S.R. 2006/109), arts. 1(1)(g), 24(6), Sch. 16
C18: Reg. 7(3): sum specified (coming into operation in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2007 (S.R. 2007/153), art. 24(6), Sch. 16
C19: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2008 (revoked) 2008 (S.R. 2008/92), art. 24(6), Sch. 16
C20: Reg. 7(3): sums specified (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2009 (revoked) 2009 (S.R. 2009/89), art. 24(6), Sch. 13
C21: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2010 (revoked) 2010 (S.R. 2010/118), art. 24(6), Sch. 13
C22: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2011 (revoked) 2011 (S.R. 2011/119), arts. 1(1)(l), 25(6), Sch. 13
C23: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(l) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2012 (S.R. 2012/116), arts. 1(1)(l), 25(6), Sch. 13
C24: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2013 (S.R. 2013/69), arts. 1(1)(k), 24(6), Sch. 13
C25: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2014 (revoked) 2014 (S.R. 2014/78), arts. 1(1)(k), 24(6), Sch. 13
C26: Reg. 7(3): sum specified (coming into force in accordance with art. 1(1)(k) of the amending Rule) by The Social Security Benefits Up-rating Order (Northern Ireland) 2015 (revoked) 2015 (S.R. 2015/124), arts. 1(1)(k), 24(6), Sch. 13

Commencement

I1: Reg. 7 in operation at 6.10.2003, see reg. 1(1)