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The Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2023
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- Northern Ireland Statutory Rules
- 2023 No. 29
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Citation, commencement and interpretation
1.—(1) This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2023 and shall come into operation on 6th April 2023.
(2) In this Order “relevant period” has the same meaning as in section 109(3A)(1) of the Pension Schemes Act 1993.
(3) The Interpretation Act (Northern Ireland) 1954(2) shall apply to this Order as it applies to an Act of the Assembly.
Increase of guaranteed minimum pensions
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 of the rate of that part of guaranteed minimum pensions which is attributable to earnings factors for the tax years in the relevant period is 3 per cent.
Sealed with the Official Seal of the Department for Communities on 8th March 2023
(L.S.)
Anne McCleary
A senior officer of the Department for Communities
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