The Social Security Revaluation of Earnings Factors Order (Northern Ireland) 2020 screening

Date published: 19 March 2020

The proposed statutory rule allows earnings factors derived from historic earnings to be restated at current values (i.e. values at tax year 2020/21 determined by reference to Average Weekly Earnings (AWE) for 12 months ending September 2019. Revaluation is applied to the calculation of an award of inheritable State Pension, flat rate accruals of Second State Pension (S2P) and Guaranteed Minimum State Pensions (GMPs). It is also used for the purposes of revaluing pre 6 April 2016 old State Pension Scheme pensions and credits where a Pension Sharing Order is made by the Matrimonial Courts in respect of a person’s additional State Pension.

Details

Exisiting/Revised/New: Existing
Date of Screening: 09/03/2020
Screening Outcome - Full EQIA recommended: No

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