1.—(1) This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2005 and shall come into operation on 6th April 2005.
(2) In this Order “relevant period” has the same meaning as in section 109(3A) of the Pension Schemes Act 1993(1).
(3) The Interpretation Act (Northern Ireland) 1954(2) 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 3 per cent.
Sealed with the Official Seal of the Department for Social Development on 10th March 2005.
L.S.
John O'Neill
A senior officer of the
Department for Social Development