Creation of debits and credits: transferor in new state pension system and sharing activated on or after 6 April 201646A

1

This Article applies if—

a

the transferor is in the new state pension system, and

b

the transfer day is 6 April 2016 or any later date.

2

Where this Article applies because of a relevant order or provision—

a

the transferor is subject, for the purposes of section 14 of the Pensions Act (Northern Ireland) 2015, to a debit of the shared weekly amount, and

b

the transferee is entitled, for the purposes of the relevant state pension legislation, to a credit of the shared weekly amount.

3

The shared weekly amount is the specified percentage of the excess amount of the transferor's state pension under section 4 of the Pensions Act (Northern Ireland) 2015 as at the transfer day.

4

For the purposes of calculating the shared weekly amount—

a

a transferor who is under pensionable age on the transfer day is to be treated as having reached pensionable age and to have become entitled to the state pension under section 4 of the Pensions Act (Northern Ireland) 2015 on the transfer day;

b

a transferor who has reached pensionable age on the transfer day but who has not yet become entitled to the state pension under section 4 of the Pensions Act (Northern Ireland) 2015 is to be treated as having become entitled to the pension on that day.

5

In this Article—

• “the excess amount” has the meaning given by Article 44(4);

• “relevant order or provision” means the order or provision by virtue of which this Article applies (see Article 45);

• “the relevant state pension legislation”—

  1. a

     in relation to a transferee in the old state pension system, means Part 2 of the Contributions and Benefits Act, and

  2. b

     in relation to a transferee in the new state pension system, means Part 1 of the Pensions Act (Northern Ireland) 2015;

• “specified percentage” means the percentage specified in the relevant order or provision for the purposes of paragraph (3);

• “transfer day” means the day on which the relevant order or provision takes effect;

• “transferor” means the person to whose rights the relevant order or provision relates;

• “transferee” means the person for whose benefit the relevant order or provision is made.