Part 1State pension
Up-rating of basic state pension and other benefits
7Removal of link between lower earnings limit and basic pension
(1)
Section 5 of the SSCBA (earnings limits and thresholds for Class 1 contributions) is amended as follows.
(2)
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)
Omit subsection (2) (link between lower earnings limit and weekly rate of basic pension).
(4)
Subsections (2) and (3) have effect in relation to the tax year following the designated tax year (see section 5(4)) and subsequent tax years.
(5)
In section 176(1) of the SSCBA (instruments subject to affirmative procedure), before paragraph (a) insert—
“(za)
regulations under section 5 specifying the lower earnings limit for the tax year following the designated tax year (see section 5(4) of the Pensions Act 2007) or any subsequent tax year;”.