PART 2SOCIAL SECURITY BENEFITS AND PENSIONS

Rates or amounts of certain benefits under the Pension Schemes ActI15

1

It is directed that the sums specified in paragraph (2) shall be increased from and including the respective dates specified in Article 7.

2

Sums which are payable by virtue of section 11(1) of the Pension Schemes Act (increase of guaranteed minimum where commencement of guaranteed minimum pension postponed) to a person who is also entitled to a Category A or Category B retirement pension (including sums payable by virtue of section 13(2) and (3) of that Act33) shall be increased by—

a

6.7 per cent where the increase under section 11(1) is attributable to earnings factors for the tax year 1987-88 and earlier tax years34; and

b

3.7 per cent where the increase under section 11(1) is attributable to earnings factors for the tax years 1988-89 to 1996-97 inclusive.