[Part 3 Contracted-Out Employment]

[Part 3 Contracted-Out Employment]

[Application

6

This Part applies to a relevant year if[—

(a)]     the contracted-out condition is satisfied in respect of each tax week in the year [and

(b)     there would be a surplus in the pensioner's earnings factor for the year if section 48A of the Pension Schemes Act 1993 did not apply in relation to any tax week falling in the year].

Appropriate amount for year

7

The appropriate amount for the year for the purposes of paragraph 1 is calculated as follows—

(a)     calculate amounts A and B in accordance with paragraphs 8 to 10;

(b)     subtract amount B from amount A.

Amount A: assumed [earnings factor] not exceeding LET

8

(1)     Amount A is calculated in accordance with this paragraph

Powered by Lexis+®

Popular documents