14 Earner's guaranteed minimum
Pension Schemes Act 1993 (1993 c 48) | Legislation

14  Earner's guaranteed minimum

[(1)     An earner has a guaranteed minimum in relation to the pension provided by a scheme that was a salary related contracted-out scheme if in any tax week in a relevant year—

(a)     earnings were paid to or for the earner's benefit in respect of employment which was contracted-out by reference to the scheme; and

(b)     those earnings were in excess of the lower earnings limit for that tax week (or the prescribed equivalent if the earner was paid otherwise than weekly).]

(2)     Subject to section 15(1), the guaranteed minimum shall be the weekly equivalent of an amount equal to the appropriate percentage of the total

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