2.—(1) The prescribed equivalent of the upper accrual point(1) for the purposes of—
(a)section 22 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992(2) (earnings factors); and
(b)sections 37(1), 38A(1) and 41(1) of the Pensions Act(3) (reduced rates of contributions, rebates and amount of minimum contributions),
shall be determined in accordance with paragraphs (2) to (4).
(2) Subject to paragraphs (3) and (4), the prescribed equivalent of the upper accrual point shall be—
(a)where the earnings period is a multiple of a week, the amount calculated by multiplying the upper accrual point by the corresponding multiple;
(b)where the earnings period is a month, the amount calculated by multiplying the upper accrual point by 4⅓;
(c)where the earnings period is a multiple of a month, the amount calculated by multiplying the upper accrual point by 4⅓ and multiplying the result by the corresponding multiple;
(d)in any other case, the amount calculated by dividing the upper accrual point by 7 and multiplying the result by the number of days in the earnings period concerned.
(3) The amount determined in accordance with paragraph (2)(b) and (c) if not whole pounds, shall be rounded up to the next whole pound.
(4) The amount determined in accordance with paragraph (2)(d) shall be calculated to the nearest penny, and any amount of a halfpenny or less shall be disregarded.
The definition of “upper accrual point” was inserted into section 121 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 by section 10(3)(a) of the Pensions Act (Northern Ireland) 2008 (c. 1) and substituted by section 102(4)(a) of the Pensions (No. 2) Act (Northern Ireland) 2008
Section 22 was amended by paragraph 5 of Schedule 2 to the Jobseekers (Northern Ireland) Order 1995 (S.I. 1995/2705 (N.I. 15)), paragraph 43 of Schedule 6 to the Social Security (Northern Ireland) Order 1998 (S.I. 1998/1506 (N.I. 10)), section 29(1) of the Child Support, Pensions and Social Security Act (Northern Ireland) 2000 (c. 4 (N.I.)), paragraph 26 of Schedule 1 to the National Insurance Contributions Act 2002 (c. 19), paragraph 3(3) of Schedule 3 to the Welfare Reform Act (Northern Ireland) 2007 (c. 2 (N.I.)), section 10(1) of, and paragraphs 9 and 30 of Schedule 1 to, the Pensions Act (Northern Ireland) 2008 (c. 1 (N.I.)) and section 102 of, and paragraph 2 of Schedule 7 to, the Pensions (No. 2) Act (Northern Ireland) 2008
1993 c. 49; section 37(1) was substituted by paragraph 95 of Schedule 6 to the Social Security (Northern Ireland) Order 1998 and amended by paragraph 6(2) of Schedule 10 to the Welfare Reform and Pensions Act 1999 (c. 30), paragraph 34 of Schedule 1 to the Pensions Act (Northern Ireland) 2008 and paragraph 10(2) of Schedule 7 to the Pensions (No. 2) Act (Northern Ireland) 2008; section 38A was inserted by Article 134(4) of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) and subsection (1) was substituted by paragraph 96 of Schedule 6 to the Social Security (Northern Ireland) Order 1998 and amended by paragraph 7(2) of Schedule 10 to the Welfare Reform and Pensions Act 1999 and paragraph 11 of Schedule 7 to the Pensions (No. 2) Act (Northern Ireland) 2008; section 41(1) was substituted by Article 135(2) of the Pensions (Northern Ireland) Order 1995 and amended by paragraph 56(2) of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999 (S.I. 1999/671) and paragraph 12 of Schedule 7 to the Pensions (No. 2) Act (Northern Ireland) 2008; the definition of “the Pensions Act” was inserted into section 170 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 by paragraph 2 of Schedule 4 to the Pensions (Northern Ireland) Order 1995