Statutory Rules of Northern Ireland
4th March 2015
Coming into operation
6th April 2015
Accordingly the Department for Social Development makes the following Order:
1.-(1) This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2015 and shall come into operation on 6th April 2015.
(2) In this Order "relevant period" has the same meaning as in section 109(3A)(5) of the Pension Schemes Act 1993.
(3) The Interpretation Act (Northern Ireland) 1954(6) shall apply to this Order as it applies to an Act of the Assembly.
2. For the purposes of section 105(1) of the Pension Schemes (Northern Ireland) Act 1993, the percentage by which there is to be an increase in the rate of that part of any guaranteed minimum pension which is attributable to earnings factors for the tax years in the relevant period shall be 1∙2 per cent.
Sealed with the Official Seal of the Department for Social Development on 4th March 2015
A senior officer of the Department for Social Development
(This note is not part of the Order)
This Order, which corresponds to an Order (S.I. 2015/470) made by the Secretary of State for Work and Pensions under section 109(4) of the Pension Schemes Act 1993, specifies 1∙2 per cent. as the percentage by which that part of any guaranteed minimum pension attributable to earnings factors for the tax years 1988-1989 to 1996-1997, and payable by contracted-out, defined benefit occupational pension schemes, is to be increased.
See Article 8(b) of S.R. 1999 No. 481
Section 109(3A) was inserted by section 55(b) of the Pensions Act 1995 (c. 26)
1954 c. 33 (N.I.)