Amendment of the State Pension Credit Regulations8
1
The State Pension Credit Regulations (Northern Ireland) 200360 are amended in accordance with paragraphs (2) to (5).
2
In regulation 1(2) (interpretation) in the definition of “pension fund holder” after the words “with respect to” insert “an occupational pension scheme,”.
3
In regulation 18 (notional income)—
a
in paragraph (1A) for “and (1C)” substitute “, (1CA) and (1CB)”; and
b
for paragraph (1C)61 substitute—
1C
Paragraphs (1CA) and (1CB) apply for the purposes of paragraph (1) (or, where applicable, paragraph (1) read with paragraph (1B)).
1CA
Where a benefit or allowance in payment in respect of the claimant would be adjusted under the Social Security (Overlapping Benefits) Regulations (Northern Ireland) 197962 if the retirement pension income had been claimed, he shall be treated as possessing that income minus the benefit or allowance in payment.
1CB
Where a benefit or allowance in payment in respect of the claimant would require an adjustment to be made under the Social Security (Overlapping Benefits) Regulations (Northern Ireland) 1979 to the amount of retirement pension income payable had it been claimed, he shall be treated as possessing that retirement pension income minus the adjustment which would be made to it.
4
For regulation 19 (calculation of capital in the United Kingdom) substitute—
Calculation of capital in the United Kingdom19
Capital which a claimant possesses in the United Kingdom shall be calculated at its current market or surrender value less—
a
where there would be expenses attributable to sale, 10 per cent.; and
b
the amount of any encumbrance secured on it.
5
In Schedule 2, in paragraph 8(8) (general provisions applying to housing costs) for the formula substitute—