Citation, commencement and interpretation

1.—(1) This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 1999 and shall come into operation on 6th April 1999.

(2) In this Order–

“relevant period” has the same meaning as in section 109(3A) of the Pension Schemes Act 1993(4).

(3) The Interpretation Act (Northern Ireland) 1954(5) shall apply to this Order as it applies to a Measure of the Assembly.

Increase of guaranteed minimum pensions

2.  For the purposes of section 105(1) of the Pension Schemes (Northern Ireland) Act 1993(6) the percentage by which there is to be an increase in the rate of that part of any guaranteed minimum pension which is attributable to earnings factors for the tax years in the relevant period shall be 3 per cent.

Explanatory Note

(This note is not part of the Order.)

This Order, which corresponds to an Order (S.I. 1999/192) made by the Secretary of State for Social Security under section 109(4) of the Pension Schemes Act 1993, specifies 3 per cent as the percentage by which that part of any guaranteed minimum pension attributable to earnings factors for the tax years 1988-89 to 1996-97 and payable by occupational pension schemes is to be increased.