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The Social Security Pensions (Upper Accrual Point: Prescribed Equivalent) Regulations (Northern Ireland) 2009
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- 2009 No. 110
- Explanatory Note
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations are consequential on the introduction of the upper accrual point from 6 April 2009. The upper accrual point was introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 and replaces the upper earnings limit as the weekly amount above which individuals cease to accrue entitlement to the state second pension. In addition it is the upper limit on which a contracted-out rebate or minimum contribution is payable. The Regulations provide for the determination of prescribed equivalent of the upper accrual point where a person’s earnings period is other than a week.
Regulation 1 provides for citation and commencement and defines “earnings period” for the purposes of these Regulations.
Paragraph (1) of regulation 2 provides that the prescribed equivalent of the upper accrual point for the purposes of a person’s earnings factors under section 22 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 and reduced rates of contributions, rebates and the amount of minimum contributions under the Pension Schemes (Northern Ireland) Act 1993 shall be determined in accordance with paragraphs (2) to (4).
Paragraph (2) provides for the calculation of the upper accrual point for earnings periods of other than a week. Paragraphs (3) and (4) provide for rounding to the nearest pound and the disregard of a halfpenny respectively when calculating a prescribed equivalent of the upper accrual point.
By virtue of section 102(5) of the Pensions (No. 2) Act (Northern Ireland) 2008, the requirement for prior reference to the Social Security Advisory Committee under section 149(2) of the Social Security Administration (Northern Ireland) Act 1992 does not apply to these Regulations.
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