Amendment of Schedule 2A

6.  In paragraph 18 for sub-paragraphs (a) and (b) substitute—

(a)where the election is made in the financial year starting on 1st April 2010 and ending on 31st March 2011, £5,500;

(b)where the election is made in any subsequent financial year, A x PI1/PI2 rounded to the nearest £100 where—

  • A is the maximum amount of increased retirement pension for the financial year before the financial year in which the election is made (whether determined under this paragraph or under paragraph 19);

  • PI1 is the prices index for the month of April in the financial year before the financial year in which the election is made; and

  • PI2 is the prices index for the month of April in the second financial year before the financial year in which the election is made..