Social Welfare Act, 2000
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PART VIII Amendment of Pensions Act, 1990 | ||
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Increases to pensions in payment. |
35.—Part VI of the Pensions Act, 1990 , is amended by the insertion after section 59B (inserted by section 35 of the Act of 1999) of the following section: | |
“59C.—(1) In this section— | ||
‘integrated pension’ means a scheme pension, the calculation of the amount of which involves a State pension offset; | ||
‘scheme pension’ means a pension payable under an occupational pension scheme; | ||
‘State pension’ means— | ||
(a) disablement pension, | ||
(b) death benefit under section 60, 61 or 62, | ||
(c) old age (contributory) pension, | ||
(d) retirement pension, | ||
(e) invalidity pension, | ||
(f) widow's (contributory) pension, or | ||
(g) widower's (contributory) pension, | ||
under Part II of the Social Welfare (Consolidation) Act, 1993 ; | ||
‘State pension offset’, in relation to the calculation of a scheme pension, means a deduction or offset, the amount of which depends on the amount of a State pension; | ||
‘updated State pension offset’, in relation to the calculation of an increase to a scheme pension after its commencement, means a State pension offset, the amount of which depends on the amount of a State pension at, or during a period up to, the date the increase to the scheme pension is calculated or made. | ||
(2) Where the trustees of a scheme increase an integrated pension at any time after it has commenced, notwithstanding the rules of the scheme they shall not calculate the increase by reference to an updated State pension offset. | ||
(3) Where, but for subsection (2), the trustees of a scheme would calculate an increase to an integrated pension by reference to an updated State pension offset, notwithstanding the rules of the scheme they shall instead calculate the increase by: | ||
(a) calculating the amount of the scheme pension which would notionally be payable immediately before the increase if the amount of the State pension offset had at all times been nil; | ||
(b) calculating the percentage by which the scheme pension, as so calculated, would be increased if the amount of the State pension offset continued to be nil; and | ||
(c) increasing the scheme pension actually in payment by that percentage.”. |