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Paragraph 21 Maximum amount of increased pension

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

For the purposes of paragraph 20 the factor is RI/RE where—

  • RI is the retail prices index for the month of February in the financial year before the financial year in which the new election is made, and

  • RE is the retail prices index for the month of February in the financial year before the financial year in which the start date in relation to the previous election in question election fell (or the index for January 2007, where the start date in relation to that election fell in the financial year starting on 1st January 2007 and ending on the 31st March 2008).