The Pensions Increase (Review) Order (Northern Ireland) 2024

Citation and commencement

1.  This Order may be cited as the Pensions Increase (Review) Order (Northern Ireland) 2024 and shall come into operation on 8th April 2024.

Interpretation

2.—(1) In this Order, “ the 1975 Order” means the Social Security Pensions (Northern Ireland) Order 1975.

(2) In this Order, any reference to a pension is a reference to a pension which began before 8th April 2024(1).

Pension increases: annual rate and lump sums

3.—(1) This article applies to an official pension if—

(a) a qualifying condition is satisfied; or

(b) the pension is—

(i) a derivative pension,

(ii) a substituted pension or,

(iii) a relevant injury pension.

(2) In relation to any period on or after 8th April 2024, the pension authority may increase the annual rate(2) of the pension—

(a) for a pension which began before 10th April 2023, by 6.7 per cent;

(b) for a pension which began on or after 10th April 2023, by 6.7 per cent multiplied by—

where A is the number of complete months in the period between the beginning date of the pension and 8th April 2024.

(3) In relation to a lump sum which is payable on or after 10th April 2023 but before 8th April 2024, the pension authority may increase the lump sum by 6.7 per cent multiplied by—

where A is the number of complete months in the period between the beginning date of the lump sum (or, if later, 10th April 2023) and the date on which it becomes payable.

Reductions in respect of guaranteed minimum pensions

4.—(1) Where—

(a) a person is entitled to an increase in a guaranteed minimum pension on 8th April 2024; and

(b) entitlement to that guaranteed minimum pension arises from an employment from which (either directly, or indirectly by virtue of the payment of a transfer credit) entitlement to the official pension also arises;

the amount by reference to which any increase is calculated for the purposes of article 3(2) must be reduced by an amount equal to the rate of the guaranteed minimum pension unless the Department of Finance otherwise direct in accordance with the provision of Article 69A(3) of the 1975 Order(4).

(2) Where on the death of a deceased spouse or civil partner a person becomes entitled to a guaranteed minimum pension in relation to a surviving spouse’s pension or a surviving civil partner’s pension, the amount by reference to which any increase is calculated for the purposes of article 3(2) must be reduced in accordance with Article 69 (5ZA)(5) of the 1975 Order.

Sealed with the Official Seal of the Department of Finance on 26th March 2024.

(L.S.)

Barry Armstrong

A senior officer of the

Department of Finance