The State Pension Debits and Credits (Revaluation) Order (Northern Ireland) 2024 - screening
Date published:
This Statutory Rule is a technical Order giving effect to a statutory requirement to specify the percentage that will be used to revalue the “protected payment” element of a new State Pension for persons who reach State Pension age on or after 8 April 2025.
The Pensions Act (Northern Ireland) 2015 (“the 2015 Act”) introduced a new State pension which applies to everyone reaching State Pension age on or after 6 April 2016.
The new State Pension recognises National Insurance contributions which were paid, or credited, for years prior to 6 April 2016. In these cases, the 2015 Act provides for an individual’s State Pension to be paid at a transitional rate, which may include a “protected payment”. The protected payment is the part of a person’s new State Pension based on their pre-6 April 2016 contribution record (known as the “starting amount”) which exceeds the full rate of new State Pension as at 6 April 2024 (£221.20).
Exisiting/Revised/New: Existing
Date of Screening: 28/11/2024
Screening Outcome - Full EQIA recommended: No