SCHEDULES
SCHEDULE 1STATE PENSION: CONSEQUENTIAL AND RELATED AMENDMENTS
PART 7ADDITIONAL PENSION: SIMPLIFIED ACCRUAL RATES
The Pension Schemes (Northern Ireland) Act 1993 (c. 49)
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In Schedule 3 to that Act (priority in bankruptcy, etc.) in paragraph 2 (employer’s contributions to occupational pension scheme)—
a
in sub-paragraph (5) in paragraph (b) of the definition of “reckonable earnings”, for “the current upper earnings limit” substitute “the applicable limit”; and
b
after that sub-paragraph add—
6
“The applicable limit” means—
a
in relation to a payment made in a tax week falling in a tax year before the flat rate introduction year, the upper earnings limit for the week in question;
b
in relation to a payment made in a tax week falling in the flat rate introduction year or any subsequent tax year, the upper accrual point divided by 52.