1.—(1) These Regulations may be cited as the Social Security (Deemed Income from Capital) Regulations (Northern Ireland) 2009 and shall come into operation on 2nd November 2009.
(2) The Interpretation Act (Northern Ireland) 1954(1) shall apply to these Regulations as it applies to an Act of the Assembly.
2. In regulation 15 of the State Pension Credit Regulations (Northern Ireland) 2003(2) (income for the purposes of the Act)—
(a)for paragraph (6) substitute—
“(6) For the purposes of section 15(2) of the Act (deemed income from capital) and subject to regulation 17(8) (capital to be disregarded), a claimant’s capital shall be deemed to yield a weekly income of—
(a)£1 for each £500 in excess of £10,000; and
(b)£1 for any excess which is not a complete £500.”; and
(b)omit paragraphs (7)(3) and (8).
3.—(1) The Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations (Northern Ireland) 2006(4) are amended in accordance with paragraphs (2) and (3).
(2) In regulation 27 (meaning of “income”)—
(a)for paragraph (2) substitute—
“(2) For the purposes of these Regulations and subject to regulation 42(2), a claimant’s capital shall be treated as if it were a weekly income of—
(a)£1 for each £500 in excess of £10,000; and
(b)£1 for any excess which is not a complete £500.”; and
(b)omit paragraphs (6) and (7).
(3) For paragraph 25 of Schedule 6 (amounts to be disregarded in the calculation of income other than earnings) substitute—
“25. Where the total value of any capital specified in Part II of Schedule 7 does not exceed £10,000, any income actually derived from such capital.”.
4. Paragraph 4 of Schedule 4 to the Social Security (Residential Care Homes, Nursing Homes and Independent Hospitals) Regulations (Northern Ireland) 2005(5) (Amendment of the State Pension Credit Regulations) is revoked.
Sealed with the Official Seal of the Department for Social Development on 7th July 2009
(L.S.)
Anne McCleary
A senior officer of the Department for Social Development
The Department of Finance and Personnel consents to regulation 3.
Sealed with the Official Seal of the Department of Finance and Personnel on 8th July 2009
(L.S.)
Adrian Arbuthnot
A senior officer of the Department of Finance and Personnel