Regulation 3 Amendment of the State Pension Regulations 2015

In Part 3 of the State Pension Regulations 2015, after regulation 12 (part weeks treated as whole weeks in determining the amount of entitlement during deferral) insert—

“Modification of the amount of an increment for other cases during deferral

12A.

(1)

Subject to regulation 23, this regulation applies in cases where, at any time in the deferral period, the weekly rate of the person’s state pension, had the person’s entitlement not been deferred, would have changed otherwise than because of an up-rating increase (“a non-uprating change”).

(2)

Section 17(4) of the 2014 Act (amount of an increment for pensioner postponing or suspending state pension) is modified to provide that the amount of an increment for each modification period is equal to a percentage specified in regulations of the weekly rate of the state pension to which the person, if their entitlement had not been deferred, would have been entitled immediately before the end of the modification period.

(3)

The first modification period begins at the start of the deferral period and ends immediately before the date of the first or only non-uprating change.

(4)

Further modification periods begin on the date of the most recent or only non-uprating change and end—

(a)

immediately before the end of the deferral period, where there is no subsequent non-uprating change; or

(b)

immediately before the date of the subsequent non-uprating change, where there is a subsequent non-uprating change.”.