Introduction New section 213M Uprating of opening rights, pension and lump sum
69.New section 213M(1) and (2) provide for up-rating the amount of the opening rights under cash balance arrangements and the opening pension and lump sum under defined benefits arrangements.
70.New section 213M(3) and (4) provide a power for the amount to be used for up-rating to be set through regulations.
71.New section 213M(5) provides that where the amount to be used for up-rating is varied then a review of the age-related factors must be carried out.