Search Legislation

Social Security Administration Act 1992

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 148

 Help about opening options

Alternative versions:

Changes to legislation:

Social Security Administration Act 1992, Section 148 is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

148Revaluation of earnings factorsU.K.

(1)This section shall have effect for the purpose of securing that earnings factors which are relevant—

(a)to the calculation—

(i)of the additional pension in the rate of any long-term benefit; or

(ii)of any guaranteed minimum pension; or

(b)to any other calculation required under Part III of the Pensions Act (including that Part as modified by or under any other enactment),

maintain their value in relation to the general level of earnings obtaining in Great Britain.

(2)The Secretary of State shall in each tax year review the general level of earnings obtaining in Great Britain and any changes in that level which have taken [F1place—

(a)since the end of the period taken into account for the last review under this section, or

(b)since such other date (whether earlier or later) as he may determine;

and for the purposes of any such review the Secretary of State shall estimate the general level of earnings in such manner as he thinks fit.]

(3)If on any such review the Secretary of State concludes, having regard to earlier orders under this section, that earnings factors for any previous tax year (not being earlier than 1978-79) have not, during the period taken into account for that review, maintained their value in relation to the general level of earnings, he shall make an order under this section.

(4)An order under this section shall be an order directing that, for the purposes of any such calculation as is mentioned in subsection (1) above, the earnings factor referred to in subsection (3) above shall be increased by such percentage of their amount, apart from earlier orders under this section, as the Secretary of State thinks necessary to make up that fall in their value, during the period taken into account for the review together with other falls in their value which had been made up by such earlier orders.

(5)Subsections (3) and (4) above do not require the Secretary of State to direct any increase where it appears to him that the increase would be inconsiderable.

(6)If on any such review the Secretary of State determines that he is not required to make an order under this section, he shall instead lay before each House of Parliament a report explaining his reasons for arriving at that determination.

(7)For the purposes of this section—

(a)any review under [F2section 21 of the Social Security Pensions Act 1975] (which made provision corresponding to this section) shall be treated as a review under this section; and

(b)any order under that section shall be treated as an order under this section,

(but without prejudice to sections 16 and 17 of the Interpretation Act 1978).

Textual Amendments

F2Words in s. 148(7) substituted (7.2.1994) by Pension Schemes Act 1993 (c. 48), s. 193(2), Sch. 8 para. 27; S.I. 1994/86, art. 2

Modifications etc. (not altering text)

C1S. 148 extended (with effect in relation to a person who attains pensionable age after 5.4.2000) by Pensions Act 1995 (c. 26), ss. 128(3)(4), 180(2) (with s. 128(5)(6)) (as read with Child Support, Pensions and Social Security Act 2000 (c. 19), s. 33(3)(4))

C2S. 148 modified (8.1.2001 for specified purposes, 25.1.2001 for specified purposes, 6.4.2002 in so far as not already in force) by Child Support, Pensions and Social Security Act 2000 (c. 19), ss. 33(2), 86(1)(b)(2); S.I. 2000/2950, art. 6 (as amended by S.I. 2000/3166, art. 3); S.I. 2001/153, art. 2(c)

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?