Social Welfare Act, 1992

PART III

Pension Schemes

Old age (contributory) pension (alternative method of determining yearly average).

10.—(1) Section 78 of the Principal Act is hereby amended by the substitution for subsection (3) of the following subsection:

“(3) In this Chapter—

‘yearly average’ means, in relation to any claimant, the average per contribution year of contribution weeks in respect of which that claimant has qualifying contributions, voluntary contributions or credited contributions in the period commencing either—

(a) on the 5th day of January, 1953, in case the claimant is a man, or on the 6th day of July, 1953, in case the claimant is a woman, or

(b) at the beginning of the contribution year in which the claimant's entry into insurance occurred (if after the 5th day of January, 1953, in the case of a man, or the 6th day of July, 1953, in the case of a woman),

(whichever is the later) and ending at the end of the last complete contribution year before the date of his attaining pensionable age;

‘alternative yearly average’ means, in relation to any claimant, the average per contribution year of contribution weeks in respect of which that claimant has qualifying contributions, voluntary contributions or credited contributions in the period commencing on the 6th day of April, 1979, and ending at the end of the last complete contribution year before the date of his attaining pensionable age.”.

(2) Section 79 of the Principal Act is hereby amended by—

(a) the substitution for paragraph (c) of subsection (1) of the following paragraph:

“(c) that the claimant has a yearly average or an alternative yearly average of not less than 48.”, and

(b) the substitution for subsections (7) and (8) of the following subsections:

“(7) Subject to subsection (8), regulations may provide for entitling to old age (contributory) pension a claimant who would be entitled thereto but for the fact that he has a yearly average of less than 48.

(8) Regulations under subsection (7) shall provide that old age (contributory) pension payable by virtue thereof shall be payable at a rate less than that specified in the Second Schedule, and the rate specified by the regulations may vary by reference to the yearly average so calculated, but any increase of that pension payable under section 81 (1) or section 81 (2) shall be the same as if the claimant had a yearly average of not less than 48.”

(3) This section shall apply only in the case of a person who attains pensionable age on or after the 6th day of April, 1992.