Pensions Act (Northern Ireland) 2015 No. 5

SCHEDULES

SCHEDULE 1 TRANSISTIONAL RATE OF STATE PENSION: CALCULATING THE AMOUNT

PART 2 AMOUNT FOR PRE-COMMENCEMENT QUALIFYING YEARS

Step 2: calculation of a pension based on the new system

4.—(1) For the purposes of Step 2 of the calculation in paragraph 2, the weekly rate based on the new state pension is as follows.

(2) If the person has 35 or more pre-commencement qualifying years, the rate is equal to—

(a) the full rate of the state pension on 6 April 2016, less

(b) any amount to reflect contracting out under the old system (see paragraph 5).

(3) If the person has fewer than 35 pre-commencement qualifying years, the rate is equal to—

(a) the appropriate proportion of the full rate of the state pension on 6 April 2016, less

(b) any amount to reflect contracting out under the old system (see paragraph 5).

(4) The “appropriate proportion”, in relation to a person, is—

.